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Second-Largest Bitcoin Whale in Existence Moves Staggering $1,146,000,000 in BTC

August 07, 2020

The second-largest Bitcoin whale on record just moved a whopping 96,857 BTC to two separate wallets.

Whale Alert reports that the crypto custody giant Xapo sent the Bitcoin, worth about $1.146 billion at time of writing, for a fee of about 0.0003 BTC – roughly $3.55.

About 92,857 BTC was sent to one wallet and exactly 4,000 was sent to another, according to Blockchain.com.

The transaction could be Xapo shifting around its crypto on behalf of customers or for security purposes.

The sending address was the second-largest Bitcoin wallet in existence at the time it sent the BTC, according to BitInfoCharts. It now only holds about 0.0019 BTC. The recipient of the 92,857 BTC is now the third-largest Bitcoin address.

Coinbase Custody acquired Xapo’s institutional businesses in August of last year, making it the largest crypto custodian in the world.

Xapo is known for the lengths it goes to ensure its customer’s assets are secure. Xapo owns off-the-grid bunkers that store BTC on five continents, including in the Swiss Alps. A report from Bloomberg found that clients must wait two days to retrieve their Bitcoin while Xapo verifies their identity and manually signs the transactions.

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