A bitcoin wallet dormant since the 2017 peak just moved $383 million

MarketsA bitcoin wallet dormant since the 2017 peak just moved $383 millionThe coins went to a fresh address rather than an exchange, so nothing has been sold yet.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 iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowA long-dormant bitcoin wallet that accumulated 5,908 BTC in late 2017 moved its entire holdings on Thursday, a stash now worth about $383 million.The position, built when bitcoin traded near $16,000, has gained roughly 284% despite having been briefly underwater during the 2022 market crash.The coins were sent to a new, unidentified address rather than an exchange, suggesting the move may reflect custody changes or preparation for an over-the-counter deal rather than an immediate sale.A bitcoin address that had not spent a coin in eight years moved 5,908 BTC worth about $383 million on Thursday, data shows.The wallet took in the coins when bitcoin traded at around $16,000, a level the market saw in December 2017 and early January 2018, within weeks of a cycle peak near $20,000. The stack cost roughly $100 million then and is worth about $383 million now, a gain of about 284%. It was worth $726 million at bitcoin’s lifetime in October 2025.The entry date is what makes the holding unusual. Bitcoin fell about 80% through 2018 to near $3,200. It recovered to $69,000 in 2021, then collapsed to about $15,500 in November 2022, which briefly put this position underwater five years after it was built. The wallet stayed shut then, and again last year when bitcoin cleared $122,000, roughly seven times the entry price. It is opening now, with bitcoin near $64,800 and about half the 2025 high behind it.But where the coins went matters more than that they moved. Data traced by CoinDesk shows the BTC landed at a new, unmarked address - not an exchange deposit address - which indicates a direct sale has not yet ta…

A bitcoin wallet dormant since the 2017 peak just moved $383 million

Coins in this story

Related stories

Two Groups of bitcoin Investors sell on the rise as U.S. inflation lifts prices to nearly $65,000

Ether outruns bitcoin as ETF money returns, almost all of from BlackRock's fund

Base’s social bet left it trailing in prediction markets and perps: Pollak