Mega Bitcoin whale shifts nearly $1 billion in Bitcoin

Mega Bitcoin whale shifts nearly $1 billion in Bitcoin – for a $5 fee

  • Tracking tools have identified a massive bitcoin transaction.
  • The move is the first since the host wallet was created over two years ago.
  • On-chain tools show that this wallet is among 42 others that contain up to 0.1% of the circulating bitcoin supply.

There is movement in the crypto markets. Now, a transaction from a wallet containing nearly $1 billion in bitcoin has caught the attention of crypto enthusiasts.

The anonymous owner with 31,010 BTC is considered one of the richest owners of the pioneering cryptocurrency.
Trackers discover bitcoin whale

According to the blockchain monitoring tool „Bitcoin Block Bot“, the BTC were transferred from an unidentified wallet. This address had no connection to a known platform or exchange.

A closer look at the wallet shows that a total of 35 transactions have been carried out there since its creation.

The owner has emptied the contents of the wallet, leaving by Bitcoin Blueprint a remaining balance of about 0.0043 BTC (~$139 at the current price).

Historical records from BitInfoCharts show that the Wallet has been a long-term „hodler“. The Wallet has always held a balance of 31,010.01 BTC since it was topped up on 26 October 2018. The total amount was worth around $202,000 at that time.

This gigantic chunk of BTC was transferred to two different addresses with a transaction fee of only 0.00015 BTC worth around $5.

Given that these Bitcoins were not sent to any known exchange, one might suspect that the whale was trying to reduce risk. Sharing the contents of the wallet could reduce the risk of losing the entire stash in the event of an incident.

The BTC held by this anonymous holder represents about 0.17% of the total bitcoin supply.

Shrinking whale population

Statistics from data aggregator IntoTheBlock show an existing shortage for large holders of Bitcoin. No single wallet holds 1% of the circulating supply of bitcoin. Furthermore, only four wallet addresses hold ≥ 0.5% of coins minted.
Bitcoin address activity: IntoTheBlock

Only 42 wallets hold ≥ 0.1% of the circulating supply. These whales cumulatively control 9.86% of all mined coins amounting to 1.84 million BTC.

Interestingly, the bubble chart further highlights the activity level of each wallet. Activity in this case refers to the frequency of transactions recorded by these addresses.

The darker bubbles represent the wallets with more than 300 transactions, while the lighter colours have recorded below that number since their creation. The information collected by this tool distinguishes long-term holders from other investors.

This indicates a decline in long-term holders. And with the increasing supply shock in Bitcoin (Go to buy Bitcoin cheap guide), this pool could shrink further.