As Bitcoin continues to hold above $9,800, an unknown Bitcoin whale moves more than $1 billion in BTC.
The Bitcoin was moved in block 643,133.
3 bitcoin transactions worth over $1.3 billion in block 634,133 from CryptoCurrency
The transactions came as the price of BTC was still under a key resistance level, $10,000.
The massive volume led to speculation the BTC belonged to an exchange or custodial service. Speculations quickly arose on social media stating that maybe Coinbase Custody was responsible:
In April, crypto exchange Bitfinex had moved 161,500 BTC ($1.1 billion at the time) making it the single largest transaction of Bitcoin in history.
However, neither Bitfinex’s nor this whale’s transaction was actually the largest amount of the cryptocurrency to ever be moved.
It goes to a 500,000 BTC transaction made on November 16, 2011. Worth $1.32 million at that time, that amount of Bitcoin could be liquidated for approximately $4.9 billion today.