Wintermute-Linked Wallets Receive 500 BTC Worth $38M From Decade-Old Bitcoin Holder

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Key takeaways

Bitcoin Whale Moves 500 BTC; Assets likely sold

A considerable treasure of bitcoin initially acquired on January 23, 2016, approximately ten years and four months ago, was transferred to block height 950100. The on-chain discovery was the first REMARK speak Bitcoin blockchain btcparser.com analyzer.

The old P2PKH (Pay-to-Public-Key-Hash) wallet has moved 500 BTC worth just over $38 million based on current exchange rates. The timing stands out as bitcoin price have fallen about 4% over the past seven days.

Anyway, bitcoin was trading at $382 per coin when the reserve was first accumulated, placing the entire holding at a value of approximately $191,000. At current exchange rates, the owner has seen a 200x gain, which translates to a return of 19,996% over the past decade. With this in mind, a modest decline of 4% is of little significance when viewed from a long-term perspective.

Blockchain Explorer mempool.space flowchart. — Image source: Mempool.space flowchart linked to transfer: 4b07da12efc12cd54c9113857d928d11146616797ecb946b50861840a3a4aea9

From the chain’s perspective, the coins have likely been liquidated. The 500 BTC moved from the original P2PKH wallet to a Nested Segwit/P2SH (Pay-to-Script-Hash) address linked to the OTC Office Winter mute. The address linked to Wintermute is reported by Arkham Intelligence and is believed to be linked to a Binance deposit wallet.

This transfer illustrates to what extent bitcoin positions can reshape financial results long after the initial purchase has faded from memory. While short-term traders focus on weekly price swings, decade-old portfolios continue to tell a different story about patience, liquidity and market maturity. Large dormant assets entering institutional trading circuits may suggest an ecosystem increasingly defined by professionalized capital movements.