A massive Bitcoin fortune is on the move as a pair of big-time Bitcoin holders transfer nearly half a billion dollars worth of BTC.
Two anonymous Bitcoin whales transferred a total of 31,099 BTC worth $492 million for a combined fee of about $46. The transfers were first reported by the automated blockchain monitoring tool known as Bitcoin Block Bot.
According to the latest block explorer data, the first whale moved 17,187 BTC worth $268 million to two separate addresses. One wallet with a total of three transactions received 13,912 BTC. Another wallet with a total of three transactions obtained 3,275 BTC.
BitInfoCharts shows that the first whale created the original wallet on November 11th. It immediately became the 42nd richest wallet in existence after receiving a substantial amount of BTC on the same day.
The second whale transferred 13,912 BTC worth $224 million to two separate addresses. Looking at block explorer data, one wallet with a total of five transactions received 10,637 BTC. A second wallet with a total of four transactions collected 3,275 BTC from the transaction.
The whales in question could be custodians or institutions overseeing crypto assets on behalf of their clients. The high-rolling crypto entities may also be moving Bitcoin across multiple addresses for security reasons.
However, none of the addresses involved have known connections to any company in the crypto industry. The BTC has not moved to any identified crypto exchange wallets where it could be traded and sold on the open market.