Bitcoin (BTC) Whale Moves Thousands of Bitcoins to a Different Address

An old man who hasn’t been active for almost four years. Bitcoin (BTC) The wallet suddenly moved about $250 million worth of Bitcoin to another unknown Bitcoin address. The address that received the funds currently holds almost half a billion worth of BTC.

Immobilized Bitcoin (BTC) Whale Suddenly Makes $250 Million Moves

While Bitcoin was at an all-time high, the old whale’s wallet was worth more than $1 billion. As market conditions worsened, the whale’s portfolio lost much of its value.

At the time of the transaction, only $ 250 million remained from the wallet, which was previously worth $ 1 billion.

The address “1KUr81”, which has been inactive for 3.5 years, is today 15,000 BTC(252.5 million dollars) to “1LGAVQ” address.

An address “1KUr81” that has been dormant for 3.5 years transferred all 15,000 BTC ($252.5M) out to address “1LGAVQ” today.

Now address “1LGAVQ” holds 26,056 $BTC($439.2M).https://t.co/rK2AV0Hs1C pic.twitter.com/adqtgYUSd9

— Lookonchain (@lookonchain) January 6, 2023

The first 15,000 Bitcoins were received by whale in 2019 and only now transferred back to another wallet. Unfortunately, various blockchain researchers show no data on the whale, so it cannot be determined whether it is linked to any exchange or OTC trading desk.

However, the behavior of the wallet indicates that it belongs either to a large individual investor holding and accumulating Bitcoin in various wallets, or to a blockchain-based platform in urgent need of liquidity.

But in the latter case, at least one wallet in the transaction chain would have to be linked to a specific asset flagged in researchers.

The wallet that received the funds currently has a massive $430 million in cash and does not appear to be affiliated with any cryptocurrency exchange or organization that will use these funds for liquidity.

*Not investment advice.