The focus of the cryptocurrency community is bitcoin whale People who have recently moved a large part of their home BTC holdings between different wallets. This action has sparked curiosity about the reasons for these transactions among people in the community.
Bitcoin whale moves $6 billion in BTC
Blockchain analysis platform Arkham Intelligence This incident first came to the community's attention when a post from X (formerly Twitter) mentioned that Bitcoin address (37XuVSE) had moved over $6 billion in BTC to three new addresses .
As part of the transaction, one of these addresses (bc1q8yj) was sent BTC worth $5.03 billion, while the other two addresses (bc1q6m5 and bc1q592) were sent BTC worth $561.46 million and 488.4 million, respectively. You received USD worth of BTC. arkham It added that one of the wallets (bc1q592) then began transferring the funds it received to another wallet.
Notably, the wallet that moved $6 billion in BTC was previously 5th Richest Bitcoin Address He held over 94,500 BTC in his wallet. At the moment, the wallet in question still has 1.31 BTC stored in it. Interestingly, this address has been dormant until now as it has not moved any of this BTC it has received since 2019.
A large transaction like this is always sure to cause ripples in the crypto community. affect such whales You can have it on the market. Typically, such movements can lead community members to speculate that the whale may be after another. Offload your tokens and profit. However, the fact that these transactions were not made to exchange-linked wallets put any such speculation to rest.
Another BTC whale on the rise
Bitcoinist recently reported BlackRock's Bitcoin wallet save bitcoins At an alarming rate due to the impressive demand for iShares Bitcoin Trust (IBIT). Despite only launching this ETF in mid-January 2024, BlackRock currently holds 243,126 BTC for this fund.
BlackRock's BTC holdings have made it one of the largest corporate BTC holders after centralized exchanges such as Binance, Bitfinex, and Coinbase. Bitcoin ETF Issuer Grayscale. However, sustained demand for the IBIT ETF could allow BlackRock to outperform these companies at some point.
This is also something that could be reflected positively in the price of Bitcoin. institutional demands Because the flagship cryptocurrency helped push it to new highs.
At the time of writing, Bitcoin is trading around $70,500 and has risen over the past 24 hours, according to. data From CoinMarketCap.
BTC price recovers above $71,000 | Source: BTCUSD on Tradingview.com
Featured image from Forbes, chart from Tradingview.com
