Six decade-old Bitcoin wallets moved 553 BTC, but the blockchain does not show a sale

The clearest destination in the group was a 40-BTC transfer from address 1MZX6ExdDzWefGbD6Dc4bShdBRoNA3ijLF into an address attributed to Boerse Stuttgart Digital. The transaction is recorded as 5cd109e3fc60973ca5c4b0444d22cc54746070cef5261a809ff7d2e52ed6029f in block 964,127 at 10:54 UTC on Aug. 26, according to the onchain record reviewed for this report.

Movement is not the same as selling

CoinDesk said five of the six transfers went to addresses without known exchange links. That weakens a simple cash-out explanation, although an unlabeled address can later send coins elsewhere and blockchain data cannot reveal the holder's intent.

Galaxy Research has described dormant bitcoin as coins that remain at the same address for at least a year and has warned that onchain movement does not necessarily mean an exchange sale. Its broader research says the large wave of old-coin movement in 2024 and 2025 has eased, with 2026 on pace for less than half of last year's awakened supply.

The defensible conclusion is narrower than the headline fear: early bitcoin supply moved, and one transfer reached a known custody and trading provider. The available records do not establish that the six holders sold, coordinated their moves or responded to a single catalyst.