Bitcoin whale moves $383 million in BTC after 8 years of dormancy: onchain data

Markets•July 16, 2026, 2:54AM EDT
Make us preferred on Google
Bitcoin whale moves $383 million in BTC after 8 years of dormancy: onchain data
Partner offers

Quick Take

  • A bitcoin OG wallet transferred 5,908 BTC to a new address on Wednesday.
  • The wallet originally received the bitcoin in December 2017, when BTC was trading at around $16,800, meaning the holdings are now worth nearly four times as much.

We'd love your feedback.

Advertisement

A bitcoin (BTC) whale has awakened and moved $382.7 million worth of BTC after remaining inactive for eight years and six months.

According to onchain analytics provider Lookonchain, citing Arkham data, the OG wallet "138EM…ReyiT" transferred 5,908 BTC to a new address at 7:15 p.m. Wednesday ET. The funds remain in the recipient address.

The wallet originally received the 5,908 BTC in December 2017, when bitcoin was trading at around $16,800 — valuing the holdings at roughly $99.6 million at the time. At current prices, the holdings are worth nearly four times as much.

Earlier this week, another bitcoin whale moved roughly $188 million worth of BTC after more than seven years of dormancy. While the whales' intentions remain unclear, market participants often view such transfers as potential precursors to token sales.

The world's largest cryptocurrency edged down 0.2% over the past 24 hours to trade at $64,769 as of 2:30 a.m. Thursday, according to The Block's BTC price page.

Expand Chart


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.