16-Year Dormant Address Transfers 100.02 Bitcoins
Galaxy Research recorded that address 1J3A7HovGXxK1GoCGMJpXGKa5sSwCrNHJ3 transferred 100.02 bitcoins after being dormant for 16 years, valued at $8.55 million at the time. This batch of UTXOs was first received on July 30, 2010, and the transfer occurred approximately 16.2 years later in block 970379.
The transfer time was October 7, 2026, at 18:52 UTC. Galaxy Research calculated that the realized profit and loss increased by about $8.59 million at nearly zero cost, with a holding period increase of approximately 108686654%. The transaction ID is ed49c31e816740b2624dd076d6c530abd39f2bd580dc1bb0999082d27740a69a.
This address is an early P2PKH address, historically receiving about 994.02 bitcoins, and this transfer involved 100.02 bitcoins that had not been used since July 30, 2010. Public records do not show the identity of the recipient, nor do they indicate that the funds entered an exchange.
David Hoffman, founder of Bankless, believes this transfer may be preparing for quantum attack resistance. This is speculation about the motive; the on-chain data itself only confirms that the old UTXO was spent, without proving that the new address adopted quantum-resistant signatures.
The existing quantum-resistant path for Bitcoin remains at the proposal stage. BIP-360 discusses a new type of transferable address, covering only coins that are actively moved. Lost, forgotten, or coins whose holders can no longer sign cannot be migrated even if the proposal passes.
Awakening early addresses is often seen by traders as potential supply. This time, there is no evidence of inflow or orders on exchanges, and selling has not yet occurred. If it is just a transfer to a new address, the supply has not increased. Benefiting are those who make the quantum narrative a trading theme, while those who directly interpret the movement of a single old coin as selling pressure face pressure.
Source: Public Information
ABAB AI Insight
Coins mined around 2010 have frequently moved in batches of hundreds after being dormant for over ten years. Between 2024 and 2025, several addresses from the Satoshi era transferred 50 or 100 coins consecutively, most ultimately stopping at new addresses rather than immediately going to exchanges. Galaxy Research's near-zero cost and over 100 million percentage increase indicate that accounting profits do not equal actual sales.
Hoffman's judgment aligns with the quantum theme that Bankless is pursuing. The platform is concurrently writing about Quantus, a new chain using GPK signatures instead of elliptic curves, capped at 21 million coins, but pre-mining about 27%. Bitcoin's counterpart is BIP-360, which only provides new types for actively migrated addresses. Interpreting a 2010 P2PKH expenditure as quantum-resistant lacks evidence in the form of a new address format.
Similar scripts appear every time old miner addresses awaken. In 2024, the German government sold confiscated bitcoins, where inflows and orders on exchanges can be verified. Unlike Satoshi era addresses, the recipient is usually not disclosed. The industry's focus remains on the discussion of custodial migration of existing coins, not on the switching of signature algorithms.
This is information pricing before technical replacement occurs. Quantum computing must first break elliptic curves, after which holders will pay a fee to transfer coins to new scripts. What will be permanently exposed are coins that cannot be signed. The movement of 100.02 coins changes market expectations about dormant supply, not the signature layer of Bitcoin.
ABAB News · Cognitive Law
Movement of old coins is a supply clue, not proof of sale.
Migration only protects coins that can still be signed.
Narratives can be priced first, while protocol upgrades remain in proposal.