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BTC A Bitcoin wallet that had not been touched since the end of 2017 suddenly woke up on Thursday after more than 8.5 years of silence, transferring 5,907.56 bitcoins (worth approximately US$383.6 million) to a new address.
The sleeping whale wakes up and huge amounts of bitcoins are transferred after eight years
According to Galaxy Research, these bitcoins were initially received on December 14, 2017 and transferred in Bitcoin Block 958217 at approximately 0:15 UTC time. The company estimates that the value of these positions has increased by approximately $285.5 million, a 291% increase compared to the estimated average purchase price of approximately $17,000 per Bitcoin.
The funds were transferred to a previously unidentified wallet rather than a known exchange recharge address, which does not indicate that the holder has sold Bitcoin.
In a related report, Galaxy Research identified the sending address as "Noah Doe #27-Salomon Client Dusted", linking the wallet to the address involved in the company's investigation of the "Noah Doe" lawsuit earlier this year.
The "Noah Doe" case and the ownership dispute over dormant bitcoins
According to Galaxy Research, a May 2026 report outlined the "Noah Doe" case, which involved an anonymous plaintiff who asserted ownership of approximately 3.8 million dormant bitcoins. The lawsuit targets more than 39,000 inactive Bitcoin addresses, including many believed to belong to Bitcoin creator Satoshi Nakamoto, arguing that the coins have been de facto abandoned.
The transfer also transfers the bitcoins from a traditional address that starts with a "1" to a newer "bc1q" format address, which supports lower fees and meets modern wallet standards.
Market Concern: Whale movements and chip redistribution
Bitcoin Whales usually refer to individuals or entities that hold at least 1000 bitcoins. Because blockchain transactions are public, large-scale transfers have attracted much attention, and people try to see whether large companies are increasing their holdings, reallocating, or preparing to sell.
In December last year, long-term holders began transferring billions of dollars worth of Bitcoin after Bitcoin exceeded $100,000. Some analysts at the time described the shift as a "big redistribution" from early adopters to new holders.
J.A., an analyst at cryptocurrency analysis firm CryptoQuant. Maartun said: "This year, Bitcoin has experienced an unprecedented number of changes. I call this a 'great redistribution' during which bitcoins held by long-term holders have been transferred in several waves to new holders."
In January 2026, a wallet from the Satoshi era, which had been dormant since 2010, transferred 2000 bitcoins (worth approximately US$180 million) to Coinbase. According to CryptoQuant, the institution New Whale controls approximately $130 billion in Bitcoin, exceeding the approximately $126 billion held by long-term whales.
