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Bitcoin whale moves 2,931 BTC worth $188 million after seven years

Bitcoin whale moves 2,931 BTC worth $188 million after seven years

Lookonchain said the long-dormant holdings, acquired when Bitcoin traded at $6,513, were moved to a fresh wallet as traders also tracked a separate whale rotating $31 million of ETH into BTC.

BTC
ETH

Fact Check
The claim is fully corroborated by the originating source and multiple independent outlets. The Onchain Lens X post (citing Arkham onchain data) reports exactly 2,931 BTC (~$188M) moved after 7 years of inactivity, with coins acquired near $6.5K and now worth ~10x, matching the claim precisely. CryptoBriefing confirms the move to a new wallet (not an exchange), consistent with 'moved to a new wallet.' Odaily and KuCoin independently repeat identical figures. The only minor uncertainty is inherent to onchain attribution, but the transaction data itself is verifiable via Arkham.
Summary

A Bitcoin whale transferred 2,931 BTC worth about $188 million after seven years of dormancy, with Lookonchain saying the coins were originally received when Bitcoin traded at $6,513. At that entry price, the stash was worth about $19 million and would represent roughly a tenfold gain with bitcoin near $63,000. The coins were sent to a fresh wallet rather than a known exchange address, leaving open whether the move reflects a custody change, wallet reorganization or preparation for an over-the-counter deal rather than an outright sale. The transfer also fits a broader rise in dormant-wallet activity in 2026, following reports of older addresses moving $69 million in bitcoin and two inactive wallets depositing 1,650 BTC worth $127 million into Falconx in May. Separately, EmberCN tracked another large trader swapping a cumulative 17,385 ETH, about $31 million, into 496.3 BTC at an ETH/BTC rate near 0.0285, extending a series of trades that points to a continued bet on bitcoin outperforming ether.

Terms & Concepts
  • Over-the-counter (OTC) deals: Privately negotiated trades conducted off public exchanges, often used for large transactions to limit market impact.
  • ETH/BTC ratio: The relative price of ether measured in bitcoin, often used to gauge whether ETH is outperforming or lagging BTC.
  • Bitcoin whale: A holder controlling a very large amount of BTC.