Dormant bitcoin wallet moves 2,931 BTC worth ~$188 million after seven years quiet

A bitcoin address that had sat untouched since October 2018 sent its entire 2,931 BTC balance to a new wallet on Sunday, July 12, according to on-chain trackers cited by The Block. At bitcoin's current price the stash is worth roughly $188 million.

The Block, citing Onchain Lens, which in turn cited Arkham data, reported that the address "356my…BAsmK" moved the coins to an unmarked address, "bc1qn…8gp25," at around 3:41 p.m. ET. As of that reporting, the receiving wallet had not moved the bitcoin again.

The sending wallet last transacted on Oct. 23, 2018, when bitcoin traded near $6,475. Against a spot price The Block put at $63,376 as of 10:00 p.m. ET Sunday — down about 1% on the day — the holdings have appreciated close to tenfold since they were last touched.

Why the coins moved is not known. The Block noted that transfers of this kind "often precede token sales," but that is a general pattern, not a confirmed motive here, and no sale had been observed at the time of reporting. The chain shows a movement of coins between two addresses controlled — presumably — by the same owner, nothing more.

For scale, The Block pointed to larger and older reawakenings during last year's price highs, including one holder who shifted more than $8.7 billion in bitcoin in July 2025 after 14 years of dormancy. Sunday's move is smaller and shorter-dormant than that, though still sizable.

Key facts

• 2,931 BTC moved, worth ~$188 million, on Sunday July 12, 2026 (The Block, citing Onchain Lens / Arkham).
• Sending address last active Oct. 23, 2018, when BTC was ~$6,475 (The Block) — roughly a tenfold paper gain.
• Coins sent to unmarked address "bc1qn…8gp25" at ~3:41 p.m. ET; not moved again as of reporting (The Block / Onchain Lens).
• BTC spot ~$63,376, down ~1% on the day, per The Block's price page (10:00 p.m. ET, July 12).
• A separate July 2025 move of $8.7 billion after 14 years of dormancy cited for context (The Block).

The real-world read

Treat this as what it is: a wallet moved coins. There is no confirmed cause, no confirmed sale, and no named owner — the "often precede token sales" line is a hedge, not evidence, and it should not be read as one whale about to dump. The dollar figure also rests on a chain of attribution — Onchain Lens reading Arkham's labels — so the exact address behavior is only as good as those trackers' tagging, which is inference, not proof of ownership. Worth noting on independence: The Block discloses that Foresight Ventures is its majority investor and that exchange Bitget is an anchor LP for Foresight; that's a disclosed conflict, not a knock on this specific item, but it's why a single-tracker story like this warrants a second on-chain look before anyone builds a narrative on it.

Not financial advice.

Sources

• The Block, Danny Park (July 13, 2026) — reported the 2,931 BTC / ~$188M transfer, dormancy dates, addresses, price context, and the 2025 comparison; itself citing Onchain Lens and Arkham on-chain data. The Block discloses Foresight Ventures as majority investor and Bitget as an anchor LP for Foresight.