Dormant 2023 wallets transfer 2,571 BTC to Coinbase Prime
CIE News ·
Based on reporting by Bitcoin.com News; not yet independently confirmed.
Two wallets inactive since 2023 sent 2,571 BTC worth $206.5 million to Coinbase Prime, according to Bitcoin.com News. The movements yielded an estimated paper gain of $146 million.
Two Bitcoin (BTC) addresses that had been inactive since early 2023 transferred 2,571 BTC worth roughly $206.5 million to Coinbase Prime on October 27, 2026, Bitcoin.com News reported. The transfers occurred three minutes apart, with one wallet dispatching 986.31 BTC and the other moving 1,584.98 BTC to the same deposit address. Analytics firm Lookonchain noted that the close timing and shared destination point to potential common ownership.
The holdings were originally acquired in January and May 2023 at a combined cost of around $60 million, representing an estimated paper profit of $146 million. Bitcoin.com News stated that the transfer to the institutional platform could indicate preparation for qualified custody, collateral posting, or private over-the-counter block trades.
On the same afternoon, tracking service Whale Alert registered an additional transfer of 1,847 BTC valued at $148.3 million from an unidentified wallet to Coinbase Institutional. The combined transactions directed over $350 million in BTC to institutional accounts at Coinbase.
Key facts
- 2,571 BTC moved to Coinbase Prime
- Wallets dormant since 2023
- $146M paper profit
- Additional 1,847 BTC transferred
Read the original at Bitcoin.com News