Dormant Bitcoin Whale Awakens After 8.5 Years, Transfers 5,907.56 BTC Worth Approximately $384 Million

A Bitcoin wallet that had been untouched since the end of 2017 transferred 5,907.56 BTC, valued at approximately $384 million, on Thursday, moving the funds to a new address. Data from Galaxy Research shows that these BTC were originally received on December 14, 2017, and were transferred in Bitcoin block 958217, around 00:15 UTC. The firm estimates that the position has appreciated by approximately $286 million compared to an average purchase price of around $17,000, representing a gain of 291%. The funds were transferred to a previously unidentified wallet, not a known exchange deposit address, and on-chain information does not indicate that the holder has sold the Bitcoin. This transfer also migrated the BTC from a legacy address starting with "1" to a newer bc1q address format.