Bitcoin OG moves 5,908 BTC after eight years, sitting on $283 million unrealized profit

A long-dormant Bitcoin holder transferred 5,907.56 BTC worth about $383.6 million after more than 8.5 years of inactivity, moving the coins to a previously unidentified wallet rather than a known exchange deposit address. Galaxy Research said the Bitcoin was originally received on Dec. 14, 2017 and moved in block 958217 at about 00:15 UTC, with the position up roughly $285.5 million, or 291%, from an estimated average acquisition price of about $17,000 per coin. The firm identified the sending wallet as "Noah Doe #27 – Salomon Client Dusted," linking it to addresses from its earlier Noah Doe litigation research. Galaxy Research’s May 2026 report described that case as an anonymous plaintiff’s attempt to claim ownership of about 3.8 million dormant Bitcoin across more than 39,000 inactive addresses, including many believed to belong to Satoshi Nakamoto, on the argument that the coins were abandoned. The transfer shifted funds from a legacy address starting with "1" to a newer bc1q format associated with lower fees and modern wallet standards, a move that does not by itself signal an immediate sale. Large dormant-wallet transfers are closely watched because they can indicate wallet upgrades, redistribution or preparations for trading even when coins do not reach exchanges. The move follows broader turnover among older Bitcoin holdings, including a January 2026 transfer of 2,000 BTC worth roughly $180 million from a Satoshi-era wallet to Coinbase and what CryptoQuant analyst J.A. Maartun has called a "great redistribution" as long-term holders pass coins to newer owners.