The price of Bitcoin remains above $9800, and one whale decided it was time to move more than $1 billion in BTC.
According to Blockchain data, an unknown Bitcoin trader (BTC) moved more than 132.255 BTC – approximately USD 1.3 billion – in three transactions within a minute of each other on June 11. The crypto-currency moved in the 643,133 block.
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The transactions occurred when the Bitcoin Method price was still below the key resistance level of USD 10,000. At the time of writing, 1 BTC is valued at USD 9,887.
The massive volume led to speculation that the BTC belonged to an exchange or custody service, and a user on Reddit speculated that Coinbase Custody was responsible.
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However, it is not the largest BTC transaction
Cointelegraph reported in April that the Bitfinex cryptoexchange had moved 161,500 BTCs, or USD 1.1 billion at the time, making it the largest single Bitcoin transaction in history.
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However, neither the Bitfinex transaction nor this whale’s was actually the largest amount ever moved from the cryptology. That honor goes to a 500,000 BTC transaction made on November 16, 2011. It was worth $1.32 million at the time, although that amount of Bitcoin could be liquidated for approximately $4.9 billion today.