A Bitcoin wallet that had remained inactive for nearly seven years and nine months suddenly came back to life over the past few hours. The wallet transferred its entire balance of 2,931 BTC, worth approximately $188 million at current prices, to a new address in a single transaction.
According to Onchain Lens, citing Arkham data, the wallet ending in “356my...BAsmK” moved all of its funds yesterday evening to an unlabeled address ending in “bc1qn...8gp25.” The receiving address has not made any further transactions since the transfer, and the funds remain untouched.
Bitcoin rises from $6,500 to $63,000
The wallet was last active on October 23, 2018. Bitcoin was trading at around $6,475 at the time. Since then, the price has increased almost tenfold.
Bitcoin is currently trading at $63,376, down 1% over the past 24 hours.
The difference alone highlights a striking reality. Someone who bought Bitcoin in 2018 at roughly one-tenth of today’s price could have multiplied the value of their portfolio simply by holding onto it.
It is perhaps one of the clearest examples of the “patient investor” stories often told in the crypto market. However, that same patience becomes a separate discussion when it comes to deciding when to sell.
The reason behind the transfer remains unknown. Still, when large wallets that have been dormant for years suddenly move their funds, market participants often interpret it in the same way: the owner may be preparing to sell.
Experienced on-chain observers closely monitor such transactions. When a wallet becomes active after nearly a decade of silence, speculation usually centers on profit-taking or a potential change in ownership.
Similar movements have happened before
A similar wave of dormant wallet activity emerged last year as Bitcoin approached record highs. In July 2025, a wallet that had been inactive for 14 years transferred $8.7 billion worth of Bitcoin to another address in a single transaction.
It was never confirmed where those funds ultimately went, and speculation surrounding the movement continued for a long time.
These so-called “sleeping wallets” attract significant attention from analysts. Many are believed to belong to early Bitcoin investors who accumulated coins when BTC was worth only a few dollars and never sold them.
Some observers link these wallets to forgotten private keys. Others suggest inheritance proceedings or old hardware wallets that were recovered years later. In most cases, no definitive explanation ever emerges.
When one of these addresses becomes active after several years, it serves both as a technical signal for on-chain analysts and as a small clue for market participants attempting to assess investor sentiment.
There is currently no concrete evidence linking the receiving address to a cryptocurrency exchange. It is also unclear whether the funds will remain in a private wallet or have been moved to an institutional custody service.
