A Bitcoin wallet that had remained inactive for roughly 15 years moved nearly 50 BTC on August 6, bringing coins from the network’s early years back into circulation. The address originally received 49.97 BTC on July 16, 2011, and had not spent the holdings since, according to Galaxy Research data. The position, worth roughly $500 when Bitcoin traded near $10, was valued at approximately $3.2 million when it moved.
The transaction was included in Bitcoin block 961331 at 20:14 UTC and combined four inputs totaling 49.97 BTC from the dormant wallet with two smaller inputs from other sources. A total of 50 BTC was transferred to a SegWit address. The transaction effectively moved the long-held coins into a newer Bitcoin address format after more than a decade of inactivity. Segregated Witness was introduced to alter how transaction data is structured and improve the efficient use of Bitcoin block space.
🌚 Awakened — dormant 14+ years
49.97 BTC ($3.23M) untouched since first received 2011-07-16 (15.0y ago) — just moved in block 961331Address: 1EBzWeno4frVz5hKp3LvVRpN84cpfJzYjL
No attribution💰 Realized PnL: +$3.23M (+634,347% gain) – basis ~$10 avg – held 15.0y
🕐 2026-08-06…— Galaxy Research (@glxyresearch) August 6, 2026
Destination Address Has Previous Institutional Links
The receiving address was not newly created for the transfer. On-chain labeling cited for the transaction indicates that it had previously sent 6.336 BTC and 16.131 BTC to addresses identified as FalconX deposits, while also receiving funds from wallets labeled as connected to Nexo and the now-defunct Prime Trust. Those historical interactions establish links between the destination address and institutional infrastructure, but they do not prove that the newly moved Bitcoin is being transferred to FalconX.
FalconX operates an institutional digital-asset prime brokerage offering trading, financing, custody and market-access services. The destination address’s previous FalconX interactions therefore make its transaction history notable, but the 50 BTC remained at the intermediate address as of the latest tracking data, with no on-chain evidence that the coins had subsequently reached FalconX, another exchange or a trading venue.
Motive Behind the Transfer Remains Unknown
The movement comes amid heightened attention to dormant Bitcoin holdings and security practices among long-term holders. Reports of vulnerabilities affecting some hardware-wallet setups have encouraged scrutiny of older storage arrangements, but there is currently no evidence connecting this particular 2011-era wallet to any hardware-wallet security issue. A transfer can reflect numerous actions, including changes in custody or wallet organization, without necessarily indicating an intention to sell.
The scale of the appreciation is nevertheless striking. The 49.97 BTC remained untouched through multiple Bitcoin market cycles before moving at a valuation above $3.2 million. What happens next will determine whether the transaction represents little more than a custody change or the beginning of further movement, but the blockchain activity alone does not establish the owner’s identity, motivation or intention to liquidate the coins.
