Unknown Whale Moves More Than $1 Billion In Bitcoin
Unknown Whale Moves More Than $1 Billion In Bitcoin
June 11, 2020
Unknown Whale Moves More Than $1 Billion In Bitcoin
Unknown Whale Moves More Than $1 Billion In Bitcoin
June 11, 2020

As Bitcoin continues to hold above $9,800, an unknown Bitcoin whale moves more than $1 billion in BTC.

According to blockchain data from June 11, an unknown BTC trader moved over 132,255 BTC, roughly $1.3 billion in three transactions with just one minute apart 

The Bitcoin was moved in block 643,133. 

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.

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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.

Source: Cointelegraph | Image: Pixabay


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.