Crypto traders are following a pair of eye-popping Bitcoin transactions that just hit the ledger.
The first Bitcoin whale in question moved 24,494 BTC worth $473 million from one unknown wallet to another. The sending wallet, which is now empty, was the 27th largest in the world before the transfer according to BitInfoCharts.
Just 22 minutes later, a separate and also unidentified wallet moved 32,352 BTC worth $627 million to a different newly created wallet. The sending wallet, which was also completely drained, was the 22nd largest in existence before the transfer.
Both transfers were initially identified by BTC Block Bot, an automated account on Twitter that tracks Bitcoin movements of significant size.
Both of the big crypto holders appear to have sent a test transaction of 1 BTC before sending the larger transfers over.
That, plus the timing of the movements suggests both transfers could be linked to the same person or institution.
None of the addresses involved are known to be tied to any crypto exchanges, custody providers or individuals.
The whale or whales involved may be moving funds around for security or the transfers could be connected to private over-the-counter sales.
Crypto traders on Twitter are pondering whether the transfers are linked to MicroStrategy, which recently completed a $650 million bond sale in order to fund another large purchase of BTC.
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