The bitcoin was sent to a new wallet instead of an exchange, suggesting no sale has taken place so far. On Thursday, blockchain data showed that an address dormant for eight years transferred 5,908 BTC, worth დაახლოებით $383 million.
The coins were originally acquired when bitcoin traded near $16,000—around December 2017 to early January 2018—just before the market peaked close to $20,000.
At the time, the holding was valued at roughly $100 million. Today, it is worth about $383 million, reflecting a gain of approximately 284%. At bitcoin’s peak in October 2025, the stash would have reached around $726 million.
What makes this position stand out is its timing. Bitcoin plunged करीब 80% in 2018 to about $3,200, later rebounded to $69,000 in 2021, and then dropped again to roughly $15,500 in November 2022—briefly putting the investment at a loss five years after it was built.
Despite these sharp swings, the wallet remained inactive—even when bitcoin surged past $122,000 last year, about seven times the entry price. It has only now been reactivated, with bitcoin trading near $64,800, roughly half of its 2025 high.
More important than the movement itself is the destination. According to CoinDesk’s tracking, the BTC was sent to a new, unidentified address rather than an exchange deposit wallet, indicating no immediate liquidation.
The transfer also marks a shift from a legacy address beginning with “1,” common in bitcoin’s early years, to a newer “bc1q” format, which is more efficient and cheaper to use.
Large holders often move funds between wallets for reasons such as upgrading security, adjusting custody arrangements, handling estates, or preparing for private over-the-counter deals that don’t hit public markets.
This situation differs from another group highlighted by CoinDesk, where Glassnode data shows long-term holders who bought near last year’s highs are selling at a loss during the recent rebound. In contrast, this investor remains up about 284% and has yet to sell.
A transfer to deposit addresses on exchanges like Coinbase or Binance would be the clearest signal that a sale is imminent.
