Bitcoin Whale Transfers $377.6 Million Worth of BTC
Significant Transaction by a Long-Held Wallet
A cryptocurrency wallet known for its substantial holdings has recently moved approximately $377.6 million in Bitcoin (BTC). This wallet, identified by the address 18VmXvkF4cgLi35RtMiHHDpvMjUCyVpQ9x, executed the transfer on Monday, sending around 4,582 BTC to five distinct addresses, as revealed by transaction data from blockchain explorers Arkham and mempool.space.
Details of the Transfer
Upon inspection of the transfer, it was noted that four of the receiving addresses were credited with exactly 1,000 BTC each, while the remaining address received approximately 582 BTC. As of the time of this writing, none of the newly credited wallets have initiated any further transactions.
History of the Wallet’s Holdings
The Bitcoin in question was initially acquired by the wallet on March 3, 2020, before the significant market downturn triggered by the onset of the COVID-19 pandemic. Just nine days after the acquisition, the price of Bitcoin plummeted more than 40%, dropping to under $4,000, a level it has not returned to since. At the time of the acquisition, the Bitcoins were valued at approximately $40.8 million.
Current Market Value
Fast forward to the recent transaction, the value of these coins has appreciated significantly, with their worth increasing roughly ninefold by the time of the transfer. This reflects the overall growth in Bitcoin’s price over the past few years.
Transaction History of the Wallet
Interestingly, this wallet remained inactive for more than four years following the acquisition. Its first outgoing transaction did not occur until August 2024, which involved a minor transfer of 0.009 BTC to another address, with the remainder of the Bitcoin returned to the original wallet.
