Summary
- In the last two weeks, four previously inactive Bitcoin wallets have transferred a total of 1,971.03 BTC (approximately $161 million), as reported by Galaxy Research, including a significant 1,260.78 BTC that had been untouched since 2016.
- Some of the oldest wallets saw extraordinary returns; one from 2011 surged by over 8.38 million percent, while a more recent transfer of 600 BTC (around $51.9 million) had been inactive since 2012.
- Three of these wallets were tagged as "Noah Doe," linked to an abandoned-property lawsuit in New York, continuing a trend of decade-old wallets becoming active again.
The revival of long-dormant Bitcoin wallets continues to accelerate, with four such wallets moving a total of $161 million in Bitcoin over the past fortnight.
According to blockchain analysis from Galaxy Research, these wallets collectively transferred 1,971.03 BTC between September 6 and September 22. The most substantial of these, containing 1,260.78 BTC valued at around $100.63 million, had remained untouched since July 2016, marking over a decade of inactivity and a potential gain of approximately 12,122% from an initial cost around $652.
Myriad: How high will Bitcoin go? Click to make your prediction.The oldest wallets exhibited even more remarkable percentage gains. One wallet that had been dormant since March 2011, containing 10.25 BTC now worth about $792,000, achieved a staggering increase of over 8.38 million percent from an average purchase price near $1. Another wallet holding 100 BTC, inactive since November 2011, is now valued at roughly $8.09 million, representing an increase of about 2.49 million percent.
Just recently, on Tuesday, a wallet with 600 BTC, valued at about $51.9 million, was activated after lying dormant since July 2012, which could translate to a gain exceeding 1 million percent.
Three of the four wallets are associated with the "Noah Doe" tag, which relates to a New York legal case aiming to classify thousands of dormant Bitcoin addresses as abandoned property. Since a judge paused the proceedings in June, wallets linked to this case have been increasingly reactivating.
This activity contributes to a broader trend observed throughout 2026, characterized by a notable increase in on-chain activity involving Bitcoin. An earlier instance saw six wallets move around $40 million within a mere 10-day period, and a Galaxy chart indicated that Bitcoin's oldest coins, those dormant for ten years or longer, are reawakening at an unprecedented rate.
Such transactions attract attention, as many original Bitcoin holders have lost access to their private keys, making each reactivation a potential indication of previously inaccessible supply returning to the market. However, a transaction does not clarify whether an owner is liquidating, consolidating, or shifting their assets, and the recipient of the latest 600 BTC transfer remains unidentified on the blockchain.