Bitcoin Whale Moved $378M in BTC After Six Years of Inactivity

• A major bitcoin holder moved 4,582 BTC worth about $377.6 million.
• The coins arrived in the wallet in March 2020, when they were valued at $40.8 million.
• The assets were distributed across five addresses. There are no signs of a sale so far.

A major bitcoin holder whose assets had been largely dormant since March 2020 transferred 4,582 BTC worth about $377.6 million to five addresses. Lookonchain analysts reported this, citing Arkham Intelligence data.

According to onchain data, four wallets received 1,000 BTC each, while the fifth got the remaining 582 BTC. At the time of publication, the funds were still sitting at the recipient addresses. No further movements were recorded.

The assets originally arrived at the address on March 3, 2020, when their total value was about $40.8 million. As a result, over six and a half years, the value of the coins increased by roughly 9.3 times.

Notably, nine days after receiving the bitcoins, on March 12, 2020, financial markets saw a massive sell-off triggered by the COVID-19 pandemic. That day, the price of the leading cryptocurrency plunged by more than 40% in 24 hours, dropping below $4,000.

After the coins arrived, the wallet was not used for outgoing transfers for more than four years. The first transaction was recorded only in August 2024. At that time, the owner sent 0.009 BTC to another address and returned the remaining balance to the original wallet.

The purpose of the latest transfer remains unknown. Large bitcoin movements from inactive addresses are sometimes viewed by market participants as a potential signal of preparations to sell. However, such operations can also be related to reallocating assets between the owner’s wallets or upgrading their storage setup.

The 4,582 BTC transfer came amid heightened volatility in the crypto market. On the night of October 13, 2026, bitcoin briefly dipped to $81,033 before rebounding above $83,000. 

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