Bitcoin Whales Are On The Move! What is the meaning?

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One of the richest Bitcoin (BTC) whales in history suddenly mobilized a massive cryptocurrency wealth – hundreds of millions of dollars.

An unnamed whale reactivated 14,623 BTC worth $ 225 million for a fee of just $ 5.47. The transaction was initially detected by the automated blockchain tracking tool Bitcoin Block Bot. According to the latest block explorer data, the crypto owner moved BTC to three separate addresses.

Blockchain

An unknown wallet with a total of five transactions received 14,692 BTC. The second wallet received 1 BTC, and a third wallet received less than 1 Bitcoin.

BitInfoCharts shows that the whale created the original wallet on November 6th. The wallet started receiving a significant amount of BTC that same day on its way to becoming the 50th richest wallet to exist on November 10. This whale could be an agency or cryptocurrency manager that manages BTC on behalf of their clients. The asset may also split the crypto asset across multiple wallets for security purposes.

None of the aforementioned wallets have known connections with a company that invests or operates in the cryptocurrency industry. Also, Bitcoin has not moved to any known address owned by cryptocurrency exchanges, where it can be sold and traded on the open market.

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