Four bitcoin wallets that had been inactive for more than 12 years were activated in succession over the past two days, transferring a total of 114.39 BTC.

U.Today, a blockchain media outlet, reported on Aug. 11 that the coins moved came from wallets created in early 2014, and the holdings showed returns of 7,746 percent at the time of transfer.

The key point is that long-dormant bitcoin is reappearing in the market this month. Galaxy Research tallied on Aug. 11 that three wallets created in January to February 2014 were activated in turn in consecutive bitcoin blocks. The wallets moved 27.85 BTC, 26.81 BTC and 32.77 BTC, respectively, for a total of 87.43 BTC. That was worth $5.58 million at the time.

A day earlier, on Aug. 10, another wallet from the same period moved 26.96 BTC. That meant four 2014 wallets classified as the same group moved a total of 114.39 BTC within 48 hours. A case in which 49.97 BTC moved from a 2011 wallet was also confirmed on Aug. 6. In early August alone, dormant transfers have already exceeded the total for all of July.

The transfer pattern was also similar. Bitcoin held in old wallets moved to new wallets that support P2SH scripts. The coins originally flowed in via multiple unidentified addresses and were stored for a long period, and this time were moved to new multisig wallets.

Returns were very high. In early 2014, the average purchase price for these wallets was about $814 per bitcoin. One address moved 27.85 BTC that had not been touched for 12.5 years, recording realized profit and loss of $1.76 million and a 7,746 percent return, according to the tally. That meant a small investment grew into a multimillion-dollar asset.

Some in the market say it is hard to view this as an immediate large-scale shock. That is because the transfer size was around 114 BTC, a very small level compared with global bitcoin liquidity. This volume alone cannot break current price levels or overwhelm exchange order books.

Some also view it as a warning signal. Past cases show that activity by long-time holders has often appeared ahead of price declines rather than leading to an immediate surge. In particular, they say the risk lies less in this volume itself than in the possibility that such moves could spread into a trend.

If long-term holders begin taking profits in earnest, localized selling pressure could strengthen. Even if an upward trend continues, momentum could weaken if such volumes come to market all at once. Market participants are watching whether the increase in dormant bitcoin moves in August spreads further.

Awakened — dormant 12+ years 27.85 BTC ($1.78M) untouched since first received 2014-02-02 (12.5y ago) — just moved in block 961963 Address: 1Me9EpFwAFrH6jonzQh3ByNMjzEZARNtRu Realized PnL: +$1.76M (+7,746% gain) - basis ~$814 avg - held 12.5y 2026-08-11 05:25 UTC TXID:…