A bitcoin address that had not spent a coin in eight years moved 5,908 BTC worth about $383 million on Thursday, data shows.
The wallet received the coins when bitcoin was trading around $16,000, a level the market saw in December 2017 and early January 2018, just weeks away from a cycle high near $20,000.
The stack cost about $100 million back then and is now worth about $383 million, a gain of about 284%. It was worth $726 million over the lifetime of bitcoin in October 2025.
The entry date is what makes the exploitation unusual. Bitcoin fell about 80% through 2018, to around $3,200. It recovered to $69,000 in 2021, then collapsed to around $15,500 in November 2022, briefly leaving this position underwater five years after it was built.
The wallet remained closed then, and again last year, when bitcoin surpassed $122,000, about seven times the entry price. It’s breaking open now, with bitcoin near $64,800 and about half of the 2025 high behind it.
