15-Year-Dormant Bitcoin Wallets Awaken, $120 Turns into $3 Million

ChainCatcher report: According to on-chain monitoring data from Galaxy Research, between August 29 and September 4, four additional long-dormant Bitcoin wallets were activated, collectively transferring 202.84 BTC, valued at approximately $15.73 million. The largest wallet held 146.06 BTC (around $11.31 million), which had remained inactive since November 2013—nearly 12.8 years—and realized a paper profit of approximately 12,902% based on an estimated cost basis of $595 per BTC. Another wallet, dormant since November 2011 and holding 40 BTC (worth about $3.09 million), had an average cost of roughly $3 per BTC, yielding a staggering paper profit of 2,571,899%; the holder turned an initial investment of about $120 into over $3 million over nearly 15 years. Two additional wallets transferred 10 BTC (approximately $7.77 million) and 6.78 BTC (approximately $5.51 million), respectively. Galaxy labeled the 6.78 BTC transfer as destined for a Coinbase address—a signal often indicating an intent to sell rather than merely relocate assets. Some of the activated wallets bear the sender label “Noah Doe,” linked to a lawsuit in New York State seeking to declare thousands of dormant addresses as unclaimed property; since a judge paused proceedings in June, these wallets have exhibited multiple movements. This latest wave of activity continues a trend observed since early summer, following a previous instance in August when six wallets transferred approximately $40 million within ten days.