Bitcoin Whale, Almost 4 years inactive, suddenly moves $250 million
Key Points: At the peak of Bitcoin’s price, the wallet of a dormant whale was worth more than $1Billion. But, it is now worth only $250 million.
The current balance of the received wallet is $430 million. It appears not to be associated any cryptocurrency exchange or company that would use these monies for liquidity.
A Bitcoin wallet that was inactive for more than four years suddenly transferred $250 million to an unknown Bitcoin address. The address that received the payments has approximately $500 million in BTC. This was more than $1 billion when Bitcoin’s peak value. The portfolio of the whale lost a significant amount of its value as market conditions worsened. The original 15,000 BTC was purchased by the whale in 2019, and it has only now transferred it to another wallet. Many blockchain explorers don’t have any information about the whale. It is not clear if the wallet is associated with an OTC trading desk or an exchange. However, the wallet’s activity suggests that it is either owned by a large retail investor who has been keeping and collecting Bitcoin on various wallets, or by a blockchain-based company in need of emergency liquidity. In the second situation, however, at least one wallet in the transaction chain would have been linked to a specific organization identified in explorers.The wallet that received the cash currently has $430 million in it and does not appear to be associated with any cryptocurrency exchange or company that would use those monies for liquidity.Previously, a few other wallets that had been dormant for years began to transfer payments. This could be due to a market impasse. This happens before periods of high volatility and whales might be willing to pull out temporarily. Disclaimer: This website provides general market commentary but does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comThanaCoincu NewsTags: #bitcoin pricebitcoinBitcoin miningBitcoin whaleBitcoins