Bitcoin Whale Moves 4,582 BTC Worth $378 Million After Six Years
A long-dormant Bitcoin whale transferred 4,582 BTC, valued at approximately $377.6 million, to five addresses on Monday, according to on-chain data cited by The Block. The wallet, identified as “18Vm…VpQ9x,” had remained inactive for more than six years. The transferred bitcoin remains in the recipient addresses, with no confirmed sale reported.
Blockchain records show the wallet originally received 4,582 BTC in March 2020, when the holdings were worth roughly $40.8 million. Their current valuation represents more than nine times that amount. The movement follows another significant dormant-wallet transfer last week, when a separate Bitcoin holder moved 4,500 BTC worth approximately $375.7 million after more than four years of inactivity.
Bitcoin traded around $83,245 late Monday, down 0.4% over 24 hours after briefly falling to approximately $81,220, according to The Block. The reason behind the latest transfer remains unknown. Moving bitcoin between addresses does not necessarily indicate an intention to sell, leaving the potential market impact uncertain.
Why it matters
Large Bitcoin transfers can attract investor attention because subsequent movements to exchanges may signal potential selling pressure. However, the transfer alone does not establish that the holder intends to sell, so its immediate market implications remain unclear.
