According to CoinDesk, a “Bitcoin whale” recently drew attention after moving Bitcoin worth approximately $378 million, following years of almost no trading activity.
The investor had held the Bitcoin since before the global financial market plunge in March 2020, when the Covid-19 pandemic caused the prices of many assets to fall sharply.
Notably, the Bitcoin had been held for more than six years despite major fluctuations in the crypto market. The sudden transfer has led observers to wonder whether the owner is preparing to realize profits accumulated over many years.
According to blockchain data cited from Arkham and mempool.space, the Bitcoin wallet transferred approximately 4,582 Bitcoin to five other addresses on October 12.
Four of the wallets received 1,000 Bitcoin each, while the fifth received approximately 582 Bitcoin. At the time of reporting, all of the Bitcoin remained in the receiving wallets and had not been transferred again.
The investor had held the Bitcoin since before the global financial market plunge in March 2020, when the Covid-19 pandemic caused the prices of many assets to fall sharply.
Notably, the Bitcoin had been held for more than six years despite major fluctuations in the crypto market. The sudden transfer has led observers to wonder whether the owner is preparing to realize profits accumulated over many years.
According to blockchain data cited from Arkham and mempool.space, the Bitcoin wallet transferred approximately 4,582 Bitcoin to five other addresses on October 12.
Four of the wallets received 1,000 Bitcoin each, while the fifth received approximately 582 Bitcoin. At the time of reporting, all of the Bitcoin remained in the receiving wallets and had not been transferred again.