One of the richest Bitcoin holders on record just completed a huge crypto transfer.
Traders are searching for clues as to why the whale completely drained a Bitcoin wallet, sending the trove of BTC to an unknown address.
The crypto tracker Whale Alert spotted the single transaction of 14,922 BTC worth $143.96 million. The multi-million dollar transfer cost 0.00003138 BTC – which is about $0.30.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 14,922 #BTC (143,962,779 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) May 18, 2020
According to BitInfoCharts, the wallet of origin steadily accumulated the BTC in a span of one month.
On April 5th, the wallet was the 58th richest Bitcoin address holding over 12,380 BTC worth $85.08 million.
By May 13th, the wallet had jumped 10 spots to claim the 48th richest Bitcoin address, storing more than 15,470 BTC which was worth $138.15 million at the time.
New data shows Bitcoin whales are steadily accumulating BTC.
According to Glassnode, the number of Bitcoin addresses holding at least 1,000 BTC briefly dropped after the big crash in mid-March, but quickly returned to elevated levels as the market recovered.