Someone Just Transferred $926M In Bitcoin For A 90-Cent Fee

What happened: $925,583,660 worth of Bitcoin BTC/USD was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person's bitcoin wallet address has been identified as: bc1qceljac44mjpyv4ssynf6ysz9f8q9pz3p46czje

$926 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1q9qgx23v6fayyjp4g0m3gkckkgaktg2fy6wmzqe

Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.

Since this transaction wasn't sent to an exchange, it's unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.

You can view more details about the transaction here.

According to Glassnode, there are 574,214 Bitcoin wallets with a balance of over $100,000 worth of coins.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Bitcoin is down -1% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

Posted In: BZI-CWCryptocurrencyMarketsMoversTrading Ideas

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