Bitcoin Whale Moves $378M in a Single Transaction
- A Bitcoin address moved 4,499 BTC worth $381 million to a new wallet without any exchange deposit.
- The BTC stash was initially received on Aug. 5, 2019, valued at approximately $53 million.
- Transaction fees were minimal, costing only about $1.10 for the transfer.
- Coinbase and Kraken wallets also saw withdrawals of a total of approximately 2,156 BTC around the same time.
- The receiving wallet has shown no outgoing transactions since receiving the funds.
This significant movement of Bitcoin caught traders’ attention due to its size and timing amidst other large withdrawals from major exchanges like Coinbase and Kraken. The transaction highlights the efficiency of Bitcoin transfers with minimal fees compared to traditional banking systems.
The whale’s decision not to sell during Bitcoin’s peak value demonstrates strategic management over time, resulting in substantial gains from the original investment made in August of that year.(Source)
