- Galaxy Research data shows Bitcoin‘s oldest cohort—coins dormant for a decade or more—stirring more prominently in 2026 than in most prior years, even though the year is only part way through.
- Six wallets dormant since 2011, 2012 and 2014 moved a combined 553.59 BTC (~$40.15 million) between Aug. 16 and 26, including a 40 BTC wallet last touched in May 2012.
- The awakenings come amid a choppy market: Bitcoin fell to $76,877 Friday after Fed Chair Kevin Warsh’s hawkish Jackson Hole keynote lifted September rate-hike odds to ~56%, though $2.8 billion in eight-day ETF inflows keep the longer-term outlook positive.
The most dormant Bitcoin on the network, coins untouched for a decade or more, is stirring at an unusual clip this year, according to fresh data from Galaxy Research. A chart the firm published last week tracks how much Bitcoin from each vintage “woke up” in each calendar year since 2012, with the standout being a visible band of 10-year-and-older coins moving in 2026.
Because 2026 is only part way through, Galaxy cross-hatched the bar to signal it isn’t comparable to full years, yet the oldest cohort already registers more prominently than in most prior years. The trend has picked up pace recently, with six wallets dormant since 2011, 2012, and 2014 moving 553.59 BTC worth roughly $40.15 million between Aug. 16 and Aug. 26.
One address moved 212 BTC that had sat untouched since August 2012, representing a roughly 557,640% gain on a cost basis near $12. Another shifted 10.74 BTC dormant since June 2011, while the most lucrative of the batch, 40 BTC last held in May 2012, landed at German custody bank Boerse Stuttgart Digital for a staggering 1,535,911% gain.
Movements this old draw scrutiny because so few holders from Bitcoin’s earliest days still control their keys, making each awakening a potential signal of long-dormant supply returning to circulation. Two forces may help explain the flurry: several wallets carry a “Salomon Client Dusted” tag tied to the Noah Doe case, a lawsuit seeking to abandon dormant addresses, while around 233,000 BTC left long-term wallets during the Coldcard hardware-wallet exploit.
The awakenings land during a choppy stretch as Bitcoin fell to $76,877 on Friday after Fed Chair Kevin Warsh used his Jackson Hole keynote to warn inflation isn’t cooling fast enough. Traders read the remarks as hawkish, with September rate-hike odds jumping to about 56%, though longer-term support remains from $2.8 billion in eight straight days of ETF inflows.
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