A bitcoin wallet dormant since the 2017 peak just moved $383 million
A dormant Bitcoin wallet containing $383 million worth of cryptocurrency has moved its holdings for the first time since 2017. The coins were transferred to a new, unmarked address, suggesting a potential custody upgrade or private sale rather than an immediate market dump.
Why it matters
Large movements of 'whale' wallets can signal shifts in market sentiment or impending liquidity events that impact Bitcoin's price volatility.
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.
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