Dormant Bitcoin Whale Shifts $383 Million in BTC After More Than Eight Years

A Bitcoin wallet that had been inactive for more than eight and a half years has suddenly come back to life, transferring 5,908 BTC worth approximately $382.7 million to a new address.

Blockchain analytics platform Lookonchain, referencing data from Arkham, reported that the transaction took place at around 7:15 p.m. ET on Wednesday. The entire balance was sent to a single new wallet, where the funds remain untouched.

The wallet first received the bitcoin in December 2017, when BTC was trading near $16,800. At that time, the holdings were valued at roughly $99.6 million. With Bitcoin now trading close to $64,800, the stash has increased in value by nearly four times.

The transfer follows another notable whale movement earlier this week, when a separate long-dormant wallet shifted around $188 million worth of bitcoin after sitting idle for more than seven years.

Although there is no indication that either transfer is linked to an imminent sale, large movements from dormant wallets often attract close attention from traders. Such transactions can sometimes precede exchange deposits or other market activity, fueling speculation about potential selling pressure.

Despite the renewed whale activity, Bitcoin remained relatively stable. The leading cryptocurrency slipped about 0.2% over the past 24 hours, trading at approximately $64,769 at the time of reporting.