Enormous Bitcoin Whale Abruptly Unloads Crypto Wallet in $386,000,000 Transaction

Crypto whale watchers have just seen the move of a huge BTC fortune valued at hundreds of millions of dollars.

A high-ranking anonymous company transferred 22,816 BTC worth $ 386 million for a fee of just $ 14.83.

The transfer was first sighted through the automated distributed ledger tracking tool Bitcoin Block Bot.

Source: Blockchain.com

According to the latest data from the Block Explorer, the whale has moved the huge BTC treasure trove into three separate wallets. A wallet with a total of 18 transactions receive 1,370 BTC. Another wallet with a total of four transactions collected 21,446 BTC. The third wallet with a total of two transactions receive less than a BTC.

BitInfoCharts revealed that the whale created the original wallet on October 28th. It became the 112th richest wallet ever after receiving a sizable amount of BTC on the same day. More BTC was raised on the way to the 31st richest wallet on November 25th.

The whale in question may be a custodian or an institution that manages crypto assets on behalf of their customers. The large crypto-entity can also move BTC across multiple addresses for security reasons.

More Bitcoin whales are making themselves felt. In the past 48 hours, other major Bitcoin holders have moved a total of 13,734 BTC, valued at $ 231 million. With the massive BTC transaction mentioned above, whales have moved a total of 36,550 BTC worth $ 617 million in the past two days.

Five of the transactions involved moving large sums of BTC from crypto exchanges to unknown wallets. Two transactions moved BTC from unknown wallets to crypto exchanges, and two more transactions moved BTC between crypto exchanges.

Meanwhile, one transaction moved the BTC from a payment service to an unknown wallet, and another transaction moved the BTC from a payment platform to a crypto custodian.

Featured image: Shutterstock / Maria T Hoffman