Four Bitcoin wallets that had remained inactive for more than a decade transferred a combined 1,971.03 BTC, worth approximately $161 million, over a two-week span ending September 22. The latest movement involved 600 BTC from an address that had not been used since July 2012.

Latest Transfer from 2012 Wallet

On Tuesday, the address 1K6vURxUuK6uUCeXxk31PCyDahAu1raunh sent 600 BTC in a transaction recorded in block 968116. The coins were originally received on July 14, 2012, and had stayed untouched for 14.2 years. At the time of the move, Bitcoin traded near $85,252, placing the total value at about $51.15 million to $51.9 million.

Galaxy Research calculated a realized profit of $48.71 million on the transfer, flagged at 07:22 UTC. The network fee amounted to just 0.000057 BTC. The funds left via multiple inputs ranging from 10 BTC to 200 BTC and arrived at a single new address. When the wallet was first funded, Bitcoin closed near $7.06, making the 600 coins worth roughly $4,236.

Analysts note that a transfer between addresses does not confirm a sale or any specific intention by the owner.

Breakdown of the Four Wallets

The four wallets accounted for the full 1,971.03 BTC total between September 6 and September 22. The largest single holding came from a July 2016 address that moved 1,260.78 BTC, valued at approximately $100.63 million. That position had remained quiet for more than ten years and implied a gain of roughly 12,122 percent from an estimated average cost near $652 per coin.

Two earlier wallets also became active. One holding 10.25 BTC, dormant since March 2011, was valued between roughly $792,000 and $883,000. Another containing 100 BTC, inactive since November 2011, was worth about $8.09 million.

Together the movements equaled about 0.01 percent of Bitcoin’s circulating supply of roughly 19.8 million coins.

Connection to New York Lawsuit

Three of the four wallets carried “Noah Doe” sender tags. These labels relate to a New York Supreme Court case in which a pseudonymous plaintiff has sought to have 39,069 long-dormant Bitcoin addresses declared abandoned property. The case, filed in March and amended in May, has remained paused since early June under Judge Kathy J. King. One of the tagged transfers involved 100 BTC moved on September 19 under the designation “Noah Doe #3113.”

An earlier cluster of activity between August 29 and September 4 saw six wallets transfer approximately $40 million, or 202.84 BTC. One of those transactions included a 6.78 BTC amount tagged to Coinbase.

Broader Context of Dormant Coin Activity

The recent transfers continue a pattern of decade-old coins becoming active in 2026. Galaxy Research has tracked rising movement among the oldest coin cohorts, though overall dormant Bitcoin activity remains comparatively restrained. Alex Thorn, Head of Research at Galaxy Digital, observed in July that second-quarter movement of dormant coins reached its lowest level since the third quarter of 2022. Current pacing suggests 2026 could reactivate less than half the volume seen in 2025.

Blockchain data do not reveal the ultimate purpose of the transfers. Owners may be consolidating holdings, changing custody arrangements, or preparing for other actions. The recipient address for the latest 600 BTC transfer has not been identified on-chain.