A bitcoin wallet dormant since the 2017 peak just moved $383 million

Markets A bitcoin wallet dormant since the 2017 peak just moved $383 million The coins went to a fresh address rather than an exchange, so nothing has been sold yet. By Shaurya Malwa Jul 16, 2026, 5:12 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show A long-dormant bitcoin wallet that accumulated 5,908 BTC in late 2017 moved its entire holdings on Thursday, a stash now worth about $383 million. The position, built when bitcoin traded near $16,000, has gained roughly 284% despite having been briefly underwater during the 2022 market crash. The coins were sent to a new, unidentified address rather than an exchange, suggesting the move may reflect custody changes or preparation for an over-the-counter deal rather than an immediate sale. A bitcoin address that had not spent a coin in eight years moved 5,908 BTC worth about $383 million on Thursday, data shows . 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. But where the coins went matters more than that they moved. Data traced by CoinDesk shows the BTC landed at a new, unmarked address - not an exchange deposit address - which indicates a direct sale has not yet taken place. Large holders shift balances between their own wallets to upgrade custody, rotate keys, settle estates, or stage an over-the-counter sale that never touches a public order book. The cohort is also worth separating from the one CoinDesk reported on Thursday morning, where Glassnode data shows long-term holders who bought near last year's highs selling into the bounce at a loss. This holder is up 284% and has sold nothing. Coins arriving at a Coinbase or Binance deposit address would be the first real evidence of an exit. Latest Crypto News 1 Ether outruns bitcoin as ETF money returns, almost all of from BlackRock's fund 16 minutes ago 2 Two Groups of bitcoin Investors sell on the rise as U.S. inflation lifts prices to nearly $65,000 1 hour ago 3 Coinbase's Jesse Pollak steps back from Base app leadership after admitting his crypto social strategy failed 8 hours ago 4 DTCC moves tokenized securities into live trading, marking a milestone for Wall Street's blockchain push 12 hours ago 5 Cantor and Securitize collaborate on blockchain-based IPOs 12 hours ago 6 Ostium suffers $18 million exploit as oracle attack wave continues to hit DeFi 13 hours ago 7 The privacy paradox of protecting kids online 14 hours ago 8 President Trump expected to meet with senators to work on ethics concerns in crypto bill 14 hours ago 9 South Korea to modify 76-year-old law to classify cryptocurrencies as national assets 14 hours ago 10 Open USD poses biggest threat yet to Circle's USDC, CoinShares says 15 hours ago Latest Research Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. By CoinDesk Research Jul 13, 2026 CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. Why it matters : CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. View Full Report More From Markets Ether outruns bitcoin as ETF money returns, almost all of from BlackRock's fund Two Groups of bitcoin Investors sell on the rise as U.S. inflation lifts prices to nearly $65,000 BlackRock's crypto assets fall 39% despite $15 billion of net inflows