A Bitcoin address untouched for eight years moved its entire 5,908 BTC stash — worth about $383 million — on Thursday. The coins arrived at a fresh address rather than an exchange, so no sale has taken place yet.
A Bitcoin wallet that had not spent a coin since the 2017 peak moved 5,908 BTC worth about $383 million on Thursday. Where the coins went matters more than the fact they moved: the balance landed at a new, unmarked address rather than an exchange deposit address, which means a direct sale has not yet happened.
An entry priced near the 2017 top
The wallet took in the coins when Bitcoin traded 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 now worth about $383 million, a gain of about 284%.
That entry date is what makes the holding unusual. Bitcoin fell about 80% through 2018 to near $3,200, 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.
Why the move is not proof of a sale
The wallet stayed shut through that drawdown, 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.
Large holders shift balances between their own wallets to upgrade custody, rotate keys, settle estates, or stage an over-the-counter deal that never touches a public order book. This holder is up 284% and has sold nothing, which separates it from long-term holders who bought near last year’s highs and are selling into the bounce at a loss. Coins arriving at a Coinbase or Binance deposit address would be the first real evidence of an exit.
Source: CoinDesk
Trading involves risk.
Risk Disclaimer
