Mega investor transfers 50 million euros into Bitcoin after a long time

Bitcoin (BTC) transactions are transparent to everyone, as is the transparency provided by the underlying blockchain. While the lion’s share consists of average transactions, occasionally interesting transactions come to light. For example, after a long time, a top Bitcoin owner has now sent a huge amount of coins to another wallet. What could be an underlying motive?

The Bitcoin whale is waking up

The big boys from the Bitcoin ecosystem are also called out whales called. The behavior of these large owners can provide fascinating information because they involve enormous amounts of money.

Old Bitcoin wallets that come back to life with massive transactions after a long time regularly find themselves in Bitcoin news. This time it happened again, says a new message from blockchain security company PeckShield on X (formerly Twitter).

On October 19, 2017, the address in question received a total stack of around 2,100 Bitcoins. At the time it was worth around $11.8 million. With an “age” of 6 years, it is by far a wallet that dates back to the “Satoshi era”, but the Bitcoin quantity is extremely impressive. At the current Bitcoin price, the entire mountain of Bitcoins is worth about $57.5 million. These assets have now been completely transferred to a new wallet.

At the time of the first transaction in 2017, Bitcoin price was just above $4,000, just before it began its parabolic rise towards the peak of $20,000 reached in December. The owner of the wallet apparently did not believe that the price increase was enough to (partially) sell his position. Even during the previous bull market, the entire stack remained covered in dust.

Reason for BTC move

It is difficult to determine a motive for this huge transaction. The receiving address does not appear to be linked to a crypto exchange and the owner in question therefore does not appear to want to part with his assets.

Based on this data, you cannot determine the specific purpose of the transaction. However, there is a good chance that it is just a wallet restructuring.

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