A whale was currently moving $ 49,342 BTC worth $ 361 million at a meager price of $ 0.50. However, some have shown that identical amounts have been circulating in different portfolios recently.
A transaction worth hundreds of millions of dollars has just been completed on the website. However, the reasons for the move are unclear. BTC appears to go through many different wallets almost immediately upon receipt.
A whale that rearranges its portfolios
The Whale Alert (@whale_alert) reported another massive BTC transfer. For a fee of just $ 0.50, 49,342 BTC were moved, which is equivalent to approximately $ 361 million.
, 3 ? ? ? ? ? ? ? ?, 3 49,342 #BTC Transfer ($ 361,016,972) from unknown wallet to unknown wallet
– Whale alert (@whale_alert) April 9, 2020
The low rate is another convincing case for Bitcoin. Such a transaction would cost a lot, much more if it were done through a traditional wire transfer.
However, the broadcast itself raises a few eyebrows at the strange activity associated with these portfolios. The 49,342 BTC sender has only two transactions: the BTC that was received and then when it was sent. Similarly, the recipient of the transaction reported by Whale Alert quickly sent the BTC upon receipt.
I have seen at least 6 of these transactions in about 48 hours. All for about the same amount, about 49,599 # btc / $ 360B odd is US Fiat…. Who the hell transfers these hectic amounts of #btc???
– WaHoo (@MrNorseman) April 9, 2020
The bottom line is that someone clearly pulls the BTC across different portfolios, although it’s unclear for what purpose.
These strange transactions have been noticed earlier. For example, BeInCrypto reported in December that a withdrawal of 56,000 BTC repeatedly circulated in many different unknown purses. Similar to this transaction, it jumped from one portfolio to the next almost immediately upon receipt. At first glance, it seems that someone is trying to cover up their BTC camp.
Large, inexpensive transactions are common in the Bitcoin network. Large amounts of BTC moving in portfolios could be seen as a worrying signal.
Bitcoin’s price was unaffected by the move and is currently holding its price point above $ 7,300. It is currently up 0.51% and largely stable after yesterday’s gains.
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