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February 6, 2020

Whale Abruptly Moves $2,300,000,000 in Bitcoin (BTC) – Is a Crypto Powerhouse Quietly Moving Funds?

By Daily Hodl Staff

Crypto whale watchers are on alert after five giant Bitcoin (BTC) transactions rocked the ledger.

In less than a minute, a whale sent a total of 248,360 BTC worth $2,386,000,000 in five separate transactions. Whale Alert, which tracks large cryptocurrency transfers, reported the sudden movements in a flurry of tweets.

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Although Whale Alert initially said all of the Bitcoin was transferred between unknown wallets, one of the transfers appears to have sent a large batch of BTC to the cryptocurrency exchange Bittrex. Here’s a look at all five transactions.

Back in December, Bittrex was labeled as the exchange behind a record number of Bitcoin transactions that moved $9 billion in BTC in 21 transfers.

It’s possible that Bittrex holds the cryptocurrency currently in question. However, the San Francisco-based exchange typically lets the public know when it’s shifting funds around for security purposes or other procedures that could result in the mass movement of funds.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

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