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ZEC $1,355 Dormant Bitcoin wallet moves 500 BTC to Coinbase after a decade
A wallet created in 2016 sent 500 BTC to Coinbase-linked addresses, and analysts disagree on who owns it and whether it was sold.
Key takeaways
- A decade-old wallet moved. The wallet, created in 2016, transferred 500 BTC on Tuesday.
- Value rose sharply. Bitcoin traded near $434 when the wallet was created, and the 500 BTC was valued at about $41.54 million.
- More coins followed. Dormant wallets moved 1,745.615 BTC in October, including 971.445 BTC since Sunday.
What happened
A bitcoin wallet created on Jan. 1, 2016, moved 500 BTC on Tuesday, its first transfer in more than 10 years. Bitcoin.com News reported that bitcoin traded above $82,000 at the time.
Arkham Intelligence data cited by Bitcoin.com News shows the coins went to Coinbase and were then dispersed. ZyCrypto reported that Whale Alert flagged the transfer and that Arkham tied the wallet to an address described as a Coinbase Prime deposit wallet.
The two reports differ on ownership. Bitcoin.com News called the entity behind the earlier 411.45 BTC transfer an unidentified whale. ZyCrypto said Arkham attributed the 500 BTC wallet to Clifton Collins, an Irish cannabis cultivator whose reported 6,000 BTC fortune has been the subject of Irish recovery efforts.
First $84.4KLatest $84.4K-0.1% over the period
Points are daily observations, not closing prices.
Why it matters
The transfer is part of a wider run of old coins changing hands. btcparser.com data cited by Bitcoin.com News shows 23 long-dormant wallets woke in October 2026, moving 1,745.615 BTC worth more than $143 million.
For Collins-linked holdings, ZyCrypto reported this was the fifth 500 BTC movement in 2026, bringing the year's total to 2,500 BTC. That is roughly 42% of the reported 6,000 BTC fortune, leaving about 3,500 BTC potentially remaining.
Neither report confirms a sale. ZyCrypto noted that the transfer does not show whether the bitcoin was sold or who initiated it, and that a Coinbase Prime destination does not confirm liquidation.
What the data shows
Bitcoin.com News put the 500 BTC at $41.33 million and said the wallet's coins were worth about $434 each when it was created in 2016. ZyCrypto valued the same transfer at about $41.54 million.
Other dormant wallets also moved. Bitcoin.com News reported 971.445 BTC changed hands since its Sunday report, including 411.45 BTC from a 2013 wallet. ZyCrypto said two other wallets moved a combined 417 BTC a day earlier.
Bitcoin.com News said bitcoin hit a daily peak of $83,335 on Oct. 20. ZyCrypto reported a press-time price of $84,669, up 2.62% in 24 hours.
Background
ZyCrypto reported that Collins, a former beekeeper from Dublin, accumulated about 6,000 BTC in late 2011 and early 2012 and split it across 12 wallets of 500 BTC each. It said he stored the private keys on paper inside a fishing rod case that was reportedly discarded.
Ireland's Criminal Assets Bureau said in March 2026 that it had accessed a previously inaccessible 500 BTC wallet with help from Europol's European Cybercrime Center, according to ZyCrypto.
What is still unclear
- The reports do not establish who controlled the 500 BTC wallet or whether the coins were sold after reaching Coinbase.
- The reports disagree on the wallet's owner, with one describing an unidentified whale and the other citing Arkham's attribution to Clifton Collins.
Questions readers ask
How much bitcoin moved from the dormant wallet?
The wallet transferred 500 BTC on Tuesday after more than 10 years of inactivity. Bitcoin.com News valued it at $41.33 million, while ZyCrypto put it at about $41.54 million.
Was the 500 BTC sold?
The reports do not confirm a sale. ZyCrypto said the transfer does not show whether the bitcoin was sold or who initiated it, and that a Coinbase Prime address does not confirm liquidation.
Who owns the wallet that moved 500 BTC?
The reports differ. Bitcoin.com News described an unidentified whale behind an earlier transfer, while ZyCrypto said Arkham attributed the 500 BTC wallet to Clifton Collins.
How many old bitcoin wallets have moved in October 2026?
btcparser.com data cited by Bitcoin.com News shows 23 long-dormant wallets moved 1,745.615 BTC in October 2026, worth more than $143 million.
