A Bitcoin wallet that had been inactive since late 2017 moved 5,907.56 BTC on Thursday, with the transfer valued at about $384 million. Data cited by Galaxy Research shows the coins were originally received on Dec. 14, 2017, and later moved in Bitcoin block 958217 at around 00:15 UTC. The firm estimated the position had gained roughly $286 million from an average acquisition price near $17,000, a return of 291%. The funds were sent to a previously unidentified wallet rather than a known exchange deposit address, and on-chain data did not indicate that the holder had sold the BTC. The transfer also shifted the coins from a legacy address beginning with “1” to a newer bc1q address format.
A Bitcoin wallet that had not moved funds since late 2017 transferred 5,907.56 BTC on Thursday, worth about $384 million, to a new address, according to ChainCatcher.
Galaxy Research data shows the BTC was originally received on Dec. 14, 2017. The transfer took place in Bitcoin block 958217 at about 00:15 UTC.
The firm estimated the holdings had appreciated by about $286 million from an average purchase price of roughly $17,000, representing a 291% gain.
The funds were sent to a previously unidentified wallet rather than a known exchange deposit address. On-chain information did not show that the holder had sold the bitcoin.
The move also migrated the BTC from a legacy address starting with “1” to the newer bc1q address format.
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