A massive Bitcoin trove is suddenly on the move as one of the wealthiest whales in history transfers more than a billion dollars worth of BTC.
An anonymous high-rolling entity just relocated 92,857 BTC worth $1.2 billion for a fee of just $1.31. The transfer was first noticed by the automatic blockchain monitoring tool known as Bitcoin Block Bot.
According to the latest block explorer data, the whale moved the BTC into two separate wallets.
An unknown wallet with a total of two transactions received 88,857 BTC. A second wallet that received 4,000 BTC has a recorded 19 transactions.
BitInfoCharts shows that the whale created the original wallet on August 6th. The wallet started receiving small amounts of BTC on August 7th en route to becoming the 3rd richest Bitcoin wallet in existence on October 21st.
The whale involved could be an institution or a crypto custodian overseeing the BTC on behalf of its clients. The big-time entity may also be transferring the BTC across multiple wallets for security reasons.
However, none of the addresses in question have known ties to a company that is invested in or works within the crypto industry.
The BTC has not been transferred to any known wallets owned by crypto exchanges, where it could be sold and traded on the open market.
[adinserter block="1"]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 assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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