A long-dormant Bitcoin whale has moved 2,931 BTC, valued at about $188 million at the time of transfer, after 7 years and 9 months of inactivity. According to Onchain Lens, citing Arkham Intelligence data, wallet address “356my…BAsmK” sent the full amount at 4:41 a.m. on July 13 to a new, unlabeled address, “bc1qn…8gp25.” No follow-up transfers have been recorded from the receiving address so far.
The data shows the whale last moved Bitcoin on Oct. 23, 2018, when BTC was trading at about $6,475. Onchain Lens said the holdings had remained untouched since Bitcoin was around $6,500. Based on current pricing, the position has appreciated by nearly 10x.
The reason for the transfer remains unclear. The report said large on-chain moves like this are often watched closely because they can precede deposits to exchanges and profit-taking. It also noted that several old Bitcoin wallets reactivated during last year’s all-time-high period, including a July 2025 transfer by a 14-year dormant holder or institution involving more than $8.7 billion in BTC. At the time of writing, CoinGecko showed Bitcoin at $62,978, down about 1.2% over the past 24 hours.
Whale wallet wakes up after 7 years and 9 months
A Bitcoin whale that had been inactive for 7 years and 9 months moved 2,931 BTC early on July 13, with the transfer valued at about $188 million at the time.
According to Onchain Lens, citing data from Arkham Intelligence, wallet address “356my…BAsmK” transferred the full 2,931 BTC at 4:41 a.m. to a new address that has not been labeled, “bc1qn…8gp25.”
So far, the receiving address has shown no further outgoing transfers.
Last movement was in October 2018
The data shows the whale last moved Bitcoin on Oct. 23, 2018, when BTC was priced at about $6,475. In its post, Onchain Lens said the 2,931 BTC had remained untouched since Bitcoin traded at roughly $6,500.
At current prices, the value of that stack has risen by nearly 10x from the 2018 level.
Purpose of the transfer remains unknown
The actual reason for the transfer has not been confirmed. The report said large on-chain movements of this kind are often watched closely in the crypto market because they can be an early sign that a whale is preparing to move assets onto an exchange for profit-taking.
The report also pointed to other old-wallet reactivations during the period when Bitcoin hit an all-time high last year. One of the better-known cases came in July 2025, when a Bitcoin holder or institution dormant for 14 years moved more than $8.7 billion worth of BTC.
Bitcoin at $62,978 at the time of writing
According to CoinGecko data, Bitcoin was trading at $62,978 at the time of writing, down about 1.2% over the past 24 hours.
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