Four dormant Bitcoin wallets moved 1,971 BTC ($161M) in two weeks, including a $51.9M transfer hours ago; three wallets tied to Noah Doe lawsuit.
Macro & Markets ·
Four long-dormant Bitcoin wallets have reactivated over a two-week span, collectively moving 1,971.03 BTC valued at approximately $161 million, according to Galaxy Research's blockchain monitoring. The largest single transfer—600 BTC worth $51.9 million—occurred early Tuesday and had remained inactive since July 2012. A separate wallet holding 1,260.78 BTC (~$100.63 million) had been untouched for over a decade since mid-2016.
The coins display extraordinary unrealized gains measured in percentages. A March 2011-era address holding 10.25 BTC, now valued around $792,000, would represent a gain exceeding 8.38 million percent. Another 100 BTC from November 2011, currently worth approximately $8.09 million, reflects gains of roughly 2.49 million percent from its original cost basis near $1 per coin.
Three of the four wallets carry "Noah Doe" sender tags, referencing a New York lawsuit seeking to classify thousands of inactive Bitcoin addresses as abandoned property. Court activity in that case has coincided with renewed wallet movements since June. The current reactivations extend what observers describe as a pattern of decade-old addresses returning to circulation, though whether holders intend to sell, consolidate, or transfer to new custody remains undetermined.