Key facts
- A Bitcoin wallet dormant since late 2017 moved 5,908 BTC.
- The BTC was acquired when Bitcoin traded near $16,000.
- The current value of the moved Bitcoin is approximately $383 million.
- The coins were sent to a new, unmarked address, not an exchange.
- The holder has seen a 284% gain on the initial investment.
A Bitcoin wallet that had remained inactive since late 2017, accumulating 5,908 BTC, moved its entire holdings on Thursday. The stash, acquired when Bitcoin was trading near $16,000, is now valued at approximately $383 million, marking a 284% gain. The original investment cost around $100 million.
The wallet's dormancy is notable given Bitcoin's price volatility, including an 80% drop in 2018 and a brief period underwater during the 2022 market crash. Despite these fluctuations, the holder did not sell until now.
Data indicates the Bitcoin was transferred to a new, unidentified address rather than an exchange deposit address. This suggests the move may be related to custody changes, key rotation, estate settlement, or preparation for an over-the-counter transaction, rather than an immediate sale on a public exchange.