The funds were sent to a new address instead of an exchange, indicating they have not yet been sold.
By Shaurya MalwaUpdated Jul 16, 2026, 5:39 a.m. Published Jul 16, 2026, 5:12 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- A bitcoin wallet that had not been active since late 2017 transferred its entire balance of 5,908 BTC on Thursday, valued at approximately $383 million.
- This position, acquired when bitcoin was priced near $16,000, has appreciated roughly 284%, despite a dip during the 2022 market downturn.
- The funds were moved to a new, unidentified address instead of being sent to an exchange, implying that an immediate sale has not occurred.
A bitcoin wallet that had not conducted any transactions for eight years recently transferred 5,908 BTC, which is currently valued at around $383 million, according to data.
This wallet accumulated its coins when bitcoin was trading at about $16,000, a price level seen in December 2017 and early January 2018, shortly before reaching a peak close to $20,000.
The original cost of this bitcoin stash was about $100 million, and it has now surged to approximately $383 million, representing a 284% increase. It peaked at $726 million during bitcoin’s all-time high in October 2025.
The timing of the acquisition is notable; bitcoin experienced an 80% decline throughout 2018, dropping to around $3,200. It rebounded to $69,000 in 2021, only to plummet again to roughly $15,500 in November 2022, briefly putting this wallet's holdings underwater five years after their accumulation.
The wallet remained inactive during the subsequent price surge last year when bitcoin reached $122,000, about seven times its initial entry price. It has now become active as bitcoin trades near $64,800, with about half of its 2025 peak behind it.
However, the destination of the coins is more significant than the mere fact that they moved. According to CoinDesk's analysis, the BTC was sent to a new, unmarked address, which is not associated with any exchange, indicating that a direct sale has yet to occur.
The coins departed from an address starting with 1, the original Bitcoin format established in 2009, and arrived at one beginning with bc1q, a newer format that is less expensive to transact from and was not widely supported when this wallet first received the coins.
Large holders often transfer their assets between personal wallets to enhance security, change access keys, settle estates, or prepare for over-the-counter transactions that do not involve public order books.
This particular holder's situation is distinct from another group reported by CoinDesk earlier, which showed that long-term holders who purchased near last year's highs are selling during the current price increase at a loss. This specific holder has not sold any of their bitcoins and has seen a gain of 284%.
The first real indication of a sale would be if the coins were sent to a deposit address at Coinbase or Binance.
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By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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