Bitcoin Whale Moves $378 Million After Six Years of Dormancy

Large Bitcoin holder moves $377.6 million after six years

A Bitcoin whale has moved $377.6 million worth of BTC after staying dormant for over six years. The wallet transferred roughly 4,582 BTC to five separate addresses on Monday. The funds remain in those recipient addresses and have not been sold.

The wallet originally received the 4,582 BTC in March 2020, when the holdings were worth about $40.8 million.

Key numbers

• Amount moved: approximately 4,582 BTC, valued at $377.6 million
• Original acquisition: March 2020, worth roughly $40.8 million
• Dormancy period: over six years
• Recipient addresses: five

On-chain data sources

The movement was detected by Lookonchain, citing Arkham data, which tracks activity on blockchains.

Another dormant whale moved recently

Last week, a different Bitcoin whale also moved a large amount after a long pause. That wallet, labeled "bc1q…nhj0," transferred 4,500 BTC valued at $375.7 million to another address after more than four years of inactivity.

Bitcoin price context

Bitcoin fell 0.4% over the past 24 hours to $83,245 as of 11:50 p.m. ET Monday, after briefly dropping to a local low of around $81,220 earlier that evening, according to The Block's BTC price page.

QCP Capital last week forecast Bitcoin would trade between $80,000 and $90,000 in its base case scenario for the fourth quarter.

What is confirmed

The whale movement and its timing are confirmed by on-chain data from Lookonchain and Arkham. The March 2020 acquisition value and current transfer value are also reported by the same sources.

Why it matters

Movements from dormant wallets often draw attention because they can signal shifting market sentiment. Investors watch old wallets to see whether long-held coins are being sold or simply moved.

What is still unclear

The sources do not state why the whale moved the coins. It is not clear whether the BTC will eventually be sold or if it will sit in the new addresses.

• The Block