• The Informer Post
  • Posts
  • Massive $417 Million Bitcoin (BTC) Transfer Triggers Cryptocurrency Whale Alert

Massive $417 Million Bitcoin (BTC) Transfer Triggers Cryptocurrency Whale Alert

May 13, 2020

[the_ad id="93550"]

A huge Bitcoin (BTC) transfer is turning heads in the crypto community.

One of the largest whales on the ledger just received 47,835 BTC worth $417 million – for a fee of just $1.44.

The transaction was spotted by the Bitcoin Block Bot, an on-chain whale tracker designed to identify large movements of cryptocurrency.

The Bitcoin address that received the huge trove of crypto is the 16th largest in existence at time of publishing, according to BitInfoCharts.

The wallet is highly active, and has sent and received large batches of cryptocurrency for months. This could indicate a cryptocurrency exchange owns or an institutional custody service owns the wallet.

Although there has been speculation that the address is associated with the Seattle-based crypto exchange Bittrex, the owner of the wallet has not been confirmed.

[the_ad id="95413"]

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.