A long-silent bitcoin address since the end of 2017 was re-energized on Thursday, with the transfer of 5907.56 BTCs at current prices of approximately $383.6 billion. According to Galaxy Research, a chain research institute, the funds did not flow to known exchange addresses and no direct sales signals were shown.

The transfer took place in block 958217.

According to Galaxy Research, the bitcoin originally entered the address on 14 December 2017 and completed its transfer around 00:15 UTC time on 16 July. The average buy-in cost of the warehouse, as measured, was approximately $17 million per unit, with an increase of approximately $285,550 million, or 291 per cent, in book value to date.

The transfer also moved funds from the old version of the “1” opening address to the more common bc1q format address. The latter usually supports lower fees and better meets the new generation of wallets.

Not into exchange address

The current public information indicates that the recipient is a new unrecognized wallet rather than a mainstream exchange full-value address. This means that the large transfer is more of an address sorting, hosting adjustment or warehouse relocation than a direct sale.

In the Bitcoin market, at least 1,000 BTC individuals or institutions are usually considered giant whales. Since chain transfers are publicly available, such large variations are often used by the market to determine whether large households are growing, dispersed or ready to sell.

It's about Noah Doe.

Galaxy Research labeled the transfer address on social platforms as “Noah Doe #27 — Salomon Clinic Dusted” and stated that the address was linked to the address of Noah Doe’s lawsuit that he was tracking earlier this year.

According to a May report by Galaxy Research, the plaintiff in the Noah Doe case sought to assert ownership of approximately 3.8 million long-term dead bitcoin. The subject of the proceedings concerned more than 39,000 long-outstanding addresses, including addresses that were considered to be partially relevant to China. The core statement is that these bitcoins have been “abandoned”.

Additional information:Recent transfers of bitcoin by long-term holders are not uncommon. In December of last year, after bitcoin broke down by $100,000, there were several large transfers of foreign currency in the market; in January 2026, there was also a Chinese-heart-era wallet that was transferred to Coinbase in 2000 after years of silence.