A Bitcoin whale stirred after eight years and six months of inactivity, transferring 5,908 BTC worth approximately $382.7 million to a new address on Wednesday at 7:15 p.m. ET, according to on-chain data from Arkham cited by Lookonchain. The funds remain in the recipient address, and no exchange deposit wallets were involved, suggesting the move was not an immediate preparation for sale.
The original wallet received the coins in December 2017, when Bitcoin traded near $16,800, giving the position an acquisition value of about $99.6 million. At current prices, the holding has gained roughly 284%. Notably, the whale held through severe downturns, including the 2018 crash to $3,200 and the November 2022 dip to $15,500, and never sold even when Bitcoin peaked above $122,000 in October 2025.
The transfer shifted funds from a legacy address (starting with ‘1’) to a newer bc1q format, which is more efficient. Large holders often perform such moves to upgrade custody systems, replace aging security keys, settle estates, or arrange private over-the-counter deals. The specific motivation remains unknown. Earlier this week, another dormant whale moved about $188 million in BTC after more than seven years of inactivity.
Bitcoin’s price edged down 0.2% over the past 24 hours to $64,769, showing little reaction to the on-chain movement. The lack of a confirmed sale and the absence of exchange interactions suggest no immediate selling pressure.
