Data: A dormant Bitcoin whale transfers 5,907.56 BTC after 8.5 years, worth approximately 384 million USD

A Bitcoin wallet that has not been used since the end of 2017 transferred 5,907.56 BTC on Thursday, worth approximately $384 million, with the funds moving to a new address. Data from Galaxy Research shows that these BTC were initially received on December 14, 2017, and were transferred in Bitcoin block 958217 at around UTC 00:15.

The agency estimates that the related holdings have appreciated by approximately $286 million from an average purchase price of about $17,000, representing an increase of 291%. The funds were transferred to a previously unrecognized wallet, rather than a known exchange deposit address, and on-chain information does not indicate that the holder has sold any Bitcoin. This transfer also migrated BTC from a traditional address starting with "1" to the newer bc1q address format.