Dormant Bitcoin Wallet From 2011 Moves 100 BTC, Valued at $8.09M

A Bitcoin address that had been inactive since 2011 has sent 100 BTC, a stash worth about $8.09 million based on the price cited by CoinDesk. The transfer was recorded in block 967732, according to Galaxy Research, which flagged the movement on X. On-chain data show the wallet first received the 100 BTC on Nov. 2, 2011, and the balance remained untouched for roughly 14 years and 9 months. Galaxy Research estimates the cost basis at around $3 per bitcoin, implying an unrealized gain of roughly 2.486 million times. At the market price used for the report, the realized gain on the move would be about $8.09 million. The address has also been tied to a legal dispute in New York. Galaxy Research labels it "Noah Doe #3113," a reference to a New York State case over ownership of long-dormant bitcoin wallets. In March, a plaintiff identified as "Noah Doe" and two unnamed Wyoming limited liability companies sued in the New York State Supreme Court, seeking to establish ownership of 39,069 Bitcoin addresses holding more than 3.7 million BTC in total. The complaint said some of the addresses may be linked to Satoshi Nakamoto. The report adds that the 100 BTC could date back to the period before Bitcoin's first halving in November 2012, when block rewards were 50 BTC. A round 100 BTC balance could point to early mining activity, though no further evidence was cited. Galaxy Research data show 172,042 outputs from pre-halving 50 BTC block rewards have already been spent, about 83.5% of the total, with most spending occurring before 2014. Another 33,995 such outputs remain unspent, representing about 1.699 million BTC. Of that amount, about 21,922 outputs, or roughly 1.096 million BTC, are believed to be associated with Satoshi Nakamoto's mining.