Two largest Bitcoin whales move $ 1 billion in 20 minutes

According to information available on Blockchain, two addresses moved more than $ 1 billion in just two transactions in less than 25 minutes.

Since Bitcoin reached its historic high in late November 2020, the currency has already scared many investors with a drop in the following weeks and different price changes. But despite the decline, the currency has recovered again and even flirted with its record price again, demonstrating that we are in an important period of consolidation, with the market possibly looking for new levels of support and resistance.

At a time like this, the entire cryptocurrency keeps an eye on any type of factor that can cause the asset's price to rise or go into correction. One of these factors is the large movements between “whale” addresses, which can increase investors' fear of a possible drop in the currency's price.

With that in mind, two of the largest Bitcoin whales in the world have just moved a billion dollar amount between portfolios. The two transactions, which took place last Sunday, 13, were noticed by Bitcoin Block Bot, which tracks transactions across the Bitcoin Blockchain (similar to WhaleAlert).

The first transaction, which took place at 9:58 am on Sunday, handled a total of 24,494 Bitcoins and was recorded in block 661,175. At the time of the transaction, this amount represented a value of $ 473 million.

The value could only have come from an equally impressive portfolio. According to BitinfoCharts the wallet that sent the assets was the 27th largest Bitcoin wallet in the world. With this transaction, the address was completely emptied.

But the story does not end there, as just 22 minutes after this transaction, a new movement has also alerted bots that keep an eye on the whales of the crypto marketplace ecosystem.

A second wallet, also unidentified, moved an even greater amount, with a transaction of 32,352 BTC to another newly created wallet

The total amount at the time of the transaction was around $ 627 million and also completely emptied the wallet, which before the event was the 22nd largest in the Bitcoin ecosystem.

Why is so much Bitcoin being moved?

Well, if you're thinking about the possibility of a dump, rest assured! Apparently, these movements aim to increase the security of coin owners.

Before the main transactions, a 1 Bitcoin test transaction was carried out. Both addresses did the same procedure, this, together with the fact that there were only 22 minutes between one transaction and another, may indicate that both addresses were under the control of the same person or institution.

None of the addresses have a connection with cryptocurrency brokers, which indicates that it was not a big sale that poured the value into the market. Therefore, it is very likely that someone (very wealthy) is moving Bitcoins to new wallets for security or privacy reasons.