A $377 Million Bitcoin Wallet Just Split Into Five After Six Quiet Years

A Bitcoin wallet that had not moved its main balance since March 2020 suddenly sent all 4,581.94 BTC to five new addresses, shifting roughly $377 million without sending the coins to any identified exchange.

The move is large enough to attract attention, but the transaction itself does not prove a sale. Four receiving addresses took exactly 1,000 BTC each, while the fifth received 581.94 BTC.

The public transaction record shows the transfer confirmed in block 971,126 on October 12. The fee was only 732 satoshis, worth about 60 cents at the time.

Decrypt traced the wallet’s history to March 3, 2020, when the 4,581.94 BTC position was worth roughly $40.5 million. Bitcoin was trading near $8,830 when those coins arrived.

The stash then survived every major market shock of the next six years without moving. Its value briefly sank near $17.6 million during the pandemic crash, rose above $500 million at Bitcoin’s later peak, and was still worth nearly ten times its original dollar value when the owner reorganized it.

As of the latest blockchain check, the five receiving addresses had not spent the coins. The original address retained only a small amount of dust, and none of the new destinations had been publicly identified as an exchange deposit wallet.

That distinction separates a custody reshuffle from a confirmed liquidation. A transfer can precede a sale, but owners also move old coins to rotate keys, divide custody risk, prepare an estate, or migrate to a new wallet setup.

It seems that Bitcoin mining company MARA Holdings (@MARA) also dumped 996 $BTC($81.13M).https://t.co/fTOd8FQMxR pic.twitter.com/xr6Bk1km4N

— Lookonchain (@lookonchain) October 9, 2026

Known-entity transfers look different because analysts can connect the wallet to a company and track the destination. In this case, the owner remains unknown, so treating the five-way split as a dump would go beyond the evidence.

The wallet also collected 22 tiny deposits over the years. One came from a look-alike address that copied the beginning and end of the real address, a common address-poisoning tactic meant to trick a holder into copying the wrong destination later.

The owner did not fall for it. Splitting the balance across five fresh addresses may now reduce the operational risk of keeping the entire position behind one set of credentials.

Bitcoin trades just below $83k after a mid-week slide briefly undid the September breakout. Perpetual traders and ETF holders led the selling, while new capital kept arriving on-chain and profitability stays stretched.https://t.co/HhObXc9AYY pic.twitter.com/yo7a41DjvP

— glassnode (@glassnode) October 12, 2026

The broader market was trading just below $83,000 during the transfer, with leverage and ETF selling still shaping short-term pressure. A $377 million wallet move can shake sentiment in that environment even when no coins reach a trading venue.

For now, the evidence supports one conclusion: an exceptionally patient holder changed custody after more than six years. Whether those coins stay parked or move again will determine whether this was housekeeping or the first step toward distribution.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.