Long-Dormant Bitcoin (BTC) Whale Awakens, Transfers $188M After 7+ Years

Key Takeaways

Table of Contents

Nearly 3,000 BTC valued at approximately $188 million transferred from a wallet dormant for over seven years
The original wallet’s last transaction occurred on October 23, 2018, with Bitcoin priced around $6,475
The investment has appreciated almost tenfold since the last wallet activity
No subsequent transactions have been recorded from the destination address
Movement from long-inactive wallets frequently precedes liquidation events

A significant Bitcoin holder transferred 2,931 BTC to a fresh wallet address over the weekend, breaking a silence that lasted more than seven years and nine months.

The transaction, valued at approximately $188 million based on current market rates, was detected by Onchain Lens utilizing Arkham Intelligence data.

A Bitcoin whale just woke up after 7 years.
2,931 $BTC (~$188M) was moved after sitting untouched since BTC traded at ~$6.5K.
Today, with BTC above ~$64K, the same stack is worth nearly 10x more.
Data credit: @arkham pic.twitter.com/y0JXIM91yK
— Onchain Lens (@OnchainLens) July 12, 2026

The originating wallet, labeled “356my…BAsmK,” transmitted the cryptocurrency to an unidentified destination address “bc1qn…8gp25” at approximately 3:41 p.m. Eastern Time on Sunday.

Since receiving the funds, the destination wallet has remained inactive.

The source wallet’s previous activity dates back to October 23, 2018, when Bitcoin was valued at approximately $6,475 per coin.

This represents an almost ten-fold appreciation in value from when the cryptocurrency was last accessed.

The motivation behind this transfer remains undisclosed. Nevertheless, movement from wallets that have been inactive for extended periods typically precedes divestment decisions.

Implications of Long-Dormant Wallet Activity

Whenever substantial, aged wallets initiate transactions, they capture the focus of market observers and cryptocurrency traders.

A transfer to an unidentified address doesn’t necessarily indicate an immediate sale, though it frequently represents a preliminary action toward that outcome.

Throughout Bitcoin’s record-breaking price levels in 2025, numerous major stakeholders relocated their digital assets following years or even decades of complete inactivity.

Among the most notable instances occurred in July 2025, when cryptocurrency exceeding $8.7 billion in value moved after remaining stationary for 14 years.

That particular transaction ranked among the most substantial dormant wallet movements ever documented.

The present situation, though more modest in scale, mirrors the broader trend of major holders resuming activity during or following periods of elevated valuations.

Bitcoin was exchanging hands at approximately $63,376 when this report was compiled, representing a decline of roughly 1% during the preceding 24-hour period.

Certain market updates indicated the price exceeded $64,000 at various moments throughout Sunday, reflecting typical intraday volatility.

The 2,931 BTC relocated on Sunday had remained undisturbed throughout numerous Bitcoin market cycles, including the significant bull markets of 2020 and 2021.

The holder maintained their position while Bitcoin surged to $69,000 in late 2021, plummeted beneath $20,000 throughout 2022, and subsequently rebounded to unprecedented peaks during 2024 and 2025.

Whether this wallet belongs to a private individual, corporate entity, or alternative organization remains uncertain.

Blockchain analytics cannot disclose wallet ownership unless the addresses have been publicly connected to recognized entities.

As of publication, no additional transactions have been detected from the receiving wallet address.