An unidentified Bitcoin address just moved $6 billion in BTC to three new addresses
A Bitcoin address that has been dormant since 2019 moved $6 billion of bitcoin over the weekend. It’s unclear who owns the address and it doesn’t appear to be affiliated with an exchange.
The address was funded with 94,500 bitcoin ($6.05 billion) in 2019, according to data from blockchain analytics firm Arkham. This bitcoin sat unmoved until the weekend when it was split up and sent to the new addresses. This left just 1.4 bitcoin ($99,000) in the wallet.
The funds were initially split into two amounts in two different wallets. Then, one amount was moved to a new wallet, and the other amount was split again and moved into two more wallets. As a result, the funds are now in three wallets, with one containing $5 billion of bitcoin and the rest roughly divided between the other two.
Most large Bitcoin addresses are associated with exchanges. However, this wallet has very few interactions and no signs that it is linked to an exchange.
"That’s a long time to not reconfigure/move around your customer’s cold storage… most of the time there's some indication of exchange-related activity," said Arkham CEO Miguel Morel.
This is the first notable Bitcoin wallet movement in a while. In January, someone sent 26.9 bitcoin (worth $1.2 million at the time) seemingly from Binance to the Bitcoin network’s Genesis wallet — which they won't be able to get back. Before that, three bitcoin whale addresses, dormant since November 2017, transferred 6,500 bitcoins ($230 million at the time) to new addresses in November 2023.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cobie: Long-term trading
Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.
The central bank sets a major tone on stablecoins for the first time—where will the market go from here?
This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.
Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire
A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.
Stacks Nakamoto Upgrade
STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.
Trending news
MoreCrypto prices
More
