Key Highlights:
- A dormant wallet transferred 2,931 BTC worth about $188 million.
- The bitcoin had not moved since October 2018.
- The holdings have increased nearly tenfold in value.
- The funds were moved to a new wallet with no confirmed sale.
A Bitcoin wallet that had remained inactive for nearly eight years has transferred 2,931 BTC worth approximately $188 million, according to onchain data.
The coins were last moved in October 2018, when Bitcoin traded around $6,500, making the current holdings worth nearly ten times more than when they were last active.
The bitcoin was transferred to a new wallet, and there is currently no evidence that the funds have been sent to an exchange or sold.
Large movements from long-dormant wallets are closely monitored by investors, as they can sometimes signal upcoming profit-taking or simply reflect long-term holders reorganizing their assets.
