The largest wallet with Bitcoins made a humongous 101,857 BTC transfer. This mysterious bitcoin wallet moved about $934 million at the current market price. We currently do not know whom it belongs to. A Bot service that automatically tracks all blockchain transfers notices the large transaction on June 27. It is an automated Crypto tracking service. This appears to be a Bitstamp Exchange wallet with Bitgo Custodian but no confirmation yet on this.
You know what? The Bitcoin whale actually paid a measly 48 cents in fees for this whopping amount of this Bitcoin wallet moved.
Then, it is actually sent to other wallets which are new and unknown to preserve privacy. The $933M value of transfer was diversified into 2 wallets. One anonymous wallet just gets 5,000 BTC ($46M at the current market price) while the other anonymous wallet receives 96,857 BTC ($888M at the current market price).
After this transfer, the latter wallet with 97K Bitcoin is now the second whale Bitcoin wallet according to BitInfoCharts. Only Huobi’s air gapped offline wallet has more amount of Bitcoin than this whale.
What Is The Wallet With Most Bitcoin?
Although, we are able to find the largest Bitcoin address, it is really difficult to put face to the person with that Bitcoin address. I think we will get to know when someone tags the address if it is really a cold wallet of an exchange.
As a first step, you need to understand that many whales who have large stash of Bitcoin diversify into smaller chunks and split them across many different addresses. Hence, it is really difficult or close to impossible to understand their total holdings across wallets.
Also, Blockchain is a complex structure that preserves your privacy. So, Cryptocurrency addresses are going to not allow you to route back to an individual. If you have heavy blockchain analysing software, you still can. But, for the normal people out there, this is not possible. It is amazing that you can create a Bitcoin address without giving out any of your information.
What do you think of these large transfers? Is a dump about to arrive? What will you do to take defensive position?
Do you use Cryptocurrency as a hedge to your other investments?
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates