Dormant Bitcoin Wallets Stir Back to Life, Transferring Over $15 Million

A spate of long-dormant Bitcoin wallets has stirred back to life, transferring over $15 million in recent days. According to Galaxy Research's blockchain monitoring, four inactive wallets for more than a decade transferred 202.84 BTC between Aug. 29 and Sept. 4. The largest move came first, with a 146.06 BTC stash worth about $11.31 million having remained untouched since Nov. 2013.

This wallet showed a gain of about 12,902% from its original cost basis near $595. Another wallet held 40 BTC bought at an average price near $3 in Nov. 2011, turning roughly $120 into about $3.09 million after nearly 15 years.

Galaxy Research noted that a 6.78 BTC transfer to Coinbase could indicate plans to sell the coins. While this is not definitive proof of liquidation, it suggests that some owners are considering cashing out their dormant holdings.