A long-dormant Bitcoin wallet that had held the same amount since early 2020 transferred its entire balance in a single move on October 12, shifting roughly $377 million to five new addresses.

Transaction details

The wallet sent 4,581.94 BTC in one transaction that confirmed in block 971,126 at about 18:37 UTC. The fee paid was 732 satoshis, which is worth roughly sixty cents. Four of the receiving addresses received exactly 1,000 BTC each, while the fifth got the remaining 581.94 BTC. As of block 971,279 on October 13, none of those five addresses had spent any of the coins.

Historical accumulation and value shifts

The coins arrived after a March 2020 transaction that divided a 5,081.95 BTC amount, sending 250 BTC to two other addresses and the remainder to this wallet. At that time the holding was worth about $40.5 million. Over the following years the value fluctuated with market events: the COVID-19 crash, Tesla’s suspension of Bitcoin payments, China’s mining crackdown, the 2022 collapses of Terra, Celsius and FTX, Federal Reserve rate hikes, and a Trump-related tariff shock that sent Bitcoin down more than half from its peak. Despite those swings, the wallet’s value grew to roughly ten times its original size by October 2025.

Dust activity and address-poisoning attempt

Blockchain data shows twenty-two small dust deposits made to the wallet between August 2020 and May 2026, each ranging from 546 to 6,953 satoshis (under six dollars at current prices). One of those deposits arrived on January 28, 2025 from an address that copied the first three and last four characters of the wallet’s own address, sending 600 satoshis. That look-alike address had been funded on November 12, 2024 and was emptied after sending the payment. All other dust transactions used the typical bc1 format, and the wallet’s owner did not inadvertently use the look-alike address.

Current holdings

After the October transfer the original address retained only 23,288 satoshis, worth about nineteen dollars. The five receiving addresses together hold the full 4,581.94 BTC, none of which has been moved since the transaction.

Why it matters

This episode highlights how a long-term holder can remain inactive through multiple market cycles before deciding to relocate a large stake. The size of the move—over 4,500 BTC that had lain untouched for more than five years—is unusual and may be watched by traders for potential market impact. The episode also illustrates the persistence of address-poisoning tactics and the importance of verifying destination addresses before sending funds.