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One of the Richest Bitcoin Whales in Existence Just Moved $95,000,000 in BTC – Here’s Where the Crypto Is Going

July 07, 2020

Crypto insiders are following a multi-million dollar Bitcoin transaction from one of the richest BTC whales in existence.

The high-rolling crypto holder moved a total of 10,250 BTC worth $95 million for a transaction fee of just 74 cents.

The movement was first spotted by the Bitcoin Block Bot, an automated ledger tracker that monitors large BTC transactions. The most recent block explorer data shows the big time crypto owner sent the BTC to an unknown wallet that has three prior transactions, each valued at just $10 or less.

Whale alert! ? Someone moved 10,250 BTC ($95M) in block 637,996 https://t.co/xWaZmb2rJZ

— Bitcoin Block Bot (@BtcBlockBot) July 6, 2020

According to BitInfoCharts, the sending wallet held 16,662 BTC before the latest transaction, which made it the 43rd largest known BTC wallet in existence. The wallet has a history of sending and receiving large amounts of Bitcoin that can be traced as far back as April 18th.

It appears the BTC in question was not sent to any known crypto exchange, where it could be sold on the open market.

The Bitcoin whale involved could be an early adopter who is trading BTC over-the-counter or moving BTC across multiple wallets for security and management purposes.

It is also possible that the entity behind the big transfer is a cryptocurrency exchange, custody provider, or institution managing digital assets on behalf of its clients.

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.