Bitcoin Whale Moves $377M After Surviving 2020 Crash

A Bitcoin wallet that has held 4,581.94 BTC since March 2020 transferred its entire balance to five new addresses on Oct. 12, according to blockchain data cited by Decrypt. The transaction moved approximately $377 million in a single transfer, confirming in block 971,126 at around 18:37 UTC while Bitcoin traded near $82,350.

Transfer Details and Dust History

Four of the receiving addresses received exactly 1,000 BTC each, while the fifth received 581.94 BTC. The transaction paid a fee of 732 satoshis, amounting to about 60 cents. Blockchain data shows none of the five receiving addresses had spent any funds as of block 971,279 on Oct. 13.

The original wallet first received the coins on March 3, 2020, when the Bitcoin price was approximately $8,830, valuing the initial stash at about $40.5 million. The address also collected 22 dust deposits between August 2020 and May 2026, including a 600-satoshi transfer on Jan. 28, 2025, from an address matching the first three and last four characters of the whale's address in a pattern typical of address poisoning.

Market Resilience Since 2020

The wallet's holdings survived multiple major market corrections, including the initial COVID-19 market crash, Tesla's suspension of Bitcoin payments, China's mining crackdown in May 2021, and the collapses of Terra, Celsius, and FTX in 2022. Despite these shocks and subsequent dips, the multi-year holding period resulted in a nearly tenfold increase in net value from the initial day of funding.

Key facts

• The wallet transferred 4,581.94 BTC worth about $377 million on Oct. 12.
• The coins were originally acquired on March 3, 2020, for approximately $40.5 million.
• Four receiving addresses obtained 1,000 BTC each, and a fifth received 581.94 BTC.
• The transaction fee was 732 satoshis, equivalent to about 60 cents.