finance
Dormant Bitcoin Wallet Moves 5,908 BTC Worth $383 Million
A bitcoin wallet inactive since late 2017 transferred its full holdings of 5,908 BTC on Thursday to a new address. The coins, acquired near $16,000, are now valued at about $383 million. CoinDesk reported the movement did not involve an exchange.
Jul 16, 1:12 AM·1m read1 source
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A bitcoin wallet that had not spent any coins in eight years transferred its entire holdings of 5,908 BTC on Thursday to a new, unidentified address. The coins are currently worth about $383 million at prices near $64,800. The wallet accumulated the position in late 2017 when bitcoin traded near $16,000, for an entry cost of roughly $100 million.
The holding has gained 284 percent since acquisition. CoinDesk reported that the funds moved from an address beginning with 1 to one beginning with bc1q. The destination is not an exchange deposit address, indicating no immediate sale has occurred.
The wallet stayed dormant through sharp price swings. Bitcoin fell about 80 percent through 2018 to near $3,200, recovered to $69,000 in 2021, and collapsed to about $15,500 in November 2022. It remained inactive last year when bitcoin cleared $122,000 and reached a lifetime high value of $726 million for the position in October 2025.
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