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A whale moves Bitcoin worth $ 1.3 billion … The question is why?

June 11, 2020

Bitcoin’s price remains above $ 9,800 A whale decided it was time to move over $ 1 billion to BTC.

According to the blockchain data An unknown Bitcoin (BTC) trader moved more than 132,255 BTC – about $ 1.3 billion – in three transactions just one minute apart on June 11th. The cryptocurrency was moved to block 643,133.

The transactions took place when the BTC price was still below the central resistance level of USD 10,000. At the time of writing, 1 BTC is valued at $ 9,887.

A whale moves Bitcoin worth $ 1.3 billion … The question is why?A whale moves Bitcoin worth $ 1.3 billion … The question is why?

The massive volume led to speculation that the BTC was part of an exchange or trust serviceand a Reddit user speculated that Coinbase Custody was responsible for it.

However, it is not the largest BTC transaction

Cointelegraph reported in April that the crypto exchange Bitfinex had moved 161,500 BTC or $ 1.1 billion at the time, making it the largest single Bitcoin transaction in history.

However, Neither Bitfinex’s transaction nor this whale was actually the largest amount ever removed from the cryptocurrency. This award goes to a 500,000 BTC transaction that was completed on November 16, 2011.. It was valued at $ 1.32 million at the time, although this amount of bitcoin could now be liquidated for around $ 4.9 billion.

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