A gigantic move of Bitcoin had been witnessed very recently. The news suggested that at least US$ 386 Million worth of legendary coin got moved. This meant that one of the biggest owners of Bitcoin had recently transferred a total of 22,816 Bitcoin.
It was further told that the fee charged for transferring such a huge quantity of Bitcoin cost only US$ 15. That is why cryptocurrencies were established in the first place. Only if the said transaction had taken place through a bank or other mediums, then the fee would have been different. Charging of fee varies from banks to banks and jurisdictions to jurisdictions but in this case would have been in thousands.
The news further revealed that the transaction was done through Bitcoin Block Bot which is an automated tracking tool. The tool is usually used to execute crypto transactions through an automated mechanism which can also be customized.
It was further revealed that several transactionstook place and the proceeds were landed in three different digital wallet addresses. In one wallet, there had been a total of 18 transactions took place which received a total of 1,370 BTC. The huge bulk of Bitcoin were then transferred into second wallet in just four transactions. It was reported that the second tranche of Bitcoin comprised of 21,446 BTC. The third wallet received only one Bitcoin which was sent through two transactions.
Later on BitInfoCharts indicated that the wallet which was involved in sending huge bulk of Bitcoin was created in October. When the wallet got incepted, it was enlisted at number 112 in the list of high-valued Bitcoin wallets. In between October till the end of November, the wallet had received multiple huge quantities of Bitcoin. Resultantly, it then became the 31st wealthiest of the world.
Bitcoin technicians were of the view that the owner of the wallet may have been an institutional investor and not an individual. They also added that the said bulk transfer of Bitcoin maybe because of security threats.
However, this wasn’t the only high number of Bitcoins moved recently. In the past 3 days at least 50,284 Bitcoins worth US$ 848 Million approximately had been moved by whales through different transactions.