Crypto Whale Abruptly Moves $ 878,000,000 In Bitcoin – Here’s Where The Crypto Fortune Lies

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A very rich crypto wallet just transferred $ 878 billion in Bitcoin in a single transaction.

According to Blockchain.com, just over 23,022 BTC has been sent in a transfer valued at $ 877,598,640. The transaction fee was only 0.00109424 BTC, or around $ 42.00. At the time of the transaction, Bitcoin was trading at $ 38,120.

Source: Blockchain.com

The recipients of the Bitcoin transaction were two unknown addresses, one receiving 500 BTC and the other around 22,522 BTC. The sending wallet was left with a zero balance.

The wallet that received most of the BTC then initiated a transaction on its own, also sending a small amount of BTC to one wallet and most of it to another wallet.

The process has continued on several occasions and at the time of writing the majority of BTC is in this new wallet that has never sent or received crypto.

Movements can be an exchange, an institution, or an individual reorganizing funds. They could also represent a series of OTC transactions.

None of the cryptos appear to be heading to known crypto exchange addresses, where BTC could be sold on the open market.

So far this week, at least six other big transfers involving Bitcoin worth over $ 100 million have been recorded, according to Whale alert.

This includes a transfer of 3,500 Bitcoin of Binance cryptocurrency exchange at cold storage company Xapo as well as a transfer of 3000 Bitcoin in the reverse direction.

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Featured Image: Shutterstock / Gonin

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