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$243,000,000 Bitcoin Transfer Turns Heads As One of the Wealthiest Crypto Whales on Earth Awakens

by Daily Hodl Staff
August 18, 2020
in Bitcoin

A huge Bitcoin transaction is causing a stir among crypto traders.

A big-time, anonymous crypto holder just moved all of the Bitcoin in one of the richest wallets in existence, sending 19,722 BTC worth more than $243 million for a fee of $139.

Source: Blockchain.com

The transaction was first sighted by the whale-watching bot Whale Alert.

The sending wallet, which first received the Bitcoin back in December 2018, was ranked as the 37th biggest BTC address in the world prior to the transaction.

According to the latest blockchain data, the whale moved the Bitcoin to an empty BTC wallet. The receiving wallet then redistributed the Bitcoin to a flurry of different addresses in 195.2 BTC chunks, with the exception of one address, which was sent an even 200 BTC.

So far, the cryptocurrency does not appear to be heading to any known crypto exchange addresses, where it could be sold on the open market. Since none of the addresses have been identified, it’s unknown if the BTC belongs to an early investor or an institution managing large sums of crypto.

Data from the crypto analytics firm Glassnode shows the number of Bitcoin whales in existence has been on the rise since January, hitting a peak last seen in September of 2017.

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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 loses 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.
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