[Breaking]: Bitcoin Whale Spotted Moving 30,000 BTC ($193 Million) Earlier Today


Whale Alert: Someone is Moving 30k Bitcoin (BTC) $193 Million

Bitcoin blockchain monitors spotted an unusual movement earlier today: two bitcoin large transactions happened:

  1. 30,000 BTC, or $192 million, in block 541225 (Possibly Bitfinex)
  2. 30,000 BTC, or $193 million, in block 541229 (Whale?)

The movements from early Thursday morning was spotted by Bitcoin Block Bot on Twitter. You can view the transactions #1 and #2.

The first one, was more than likely Bitfinex moving BTC. The 2nd transaction is the one that is interesting.

One of the most amazing parts of this transaction was the transaction fee: it cost just $0.19 to move all 30,000 BTC. Try moving $193 million that cheaply with a traditional financial institution. Bitcoin’s fees, of course, aren’t based on the total amount being moved. A $0.19 fee might seem outrageous for a movement of $1 worth of BTC, but it’s insanely cheap for a movement this large.

As discussed on Reddit, the wallet movement was from a multi-sig wallet to another multi-sig wallet, leading some to believe it wasn’t a transfer of ownership – more likely a redistribution of keys among a party, like the addition of a co-signer to a group.

It was also noticed that the original wallet (the wallet spending the 30,000) was a billion dollar wallet watched by many in the crypto community. That wallet’s address is here: 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

As of today, that wallet has 168,789 BTC, so a 30,000 transfer is no small sum even for that whale.

What does it mean? Obviously, nobody knows for sure. Some have pointed out that Tim Draper bought 30,000 BTC in 2014 from the FBI after their sized Silk Road’s bitcoins.

Others suggest that this is a whale preparing for a huge market movement. Is someone transferring 30,000 BTC to an exchange in preparation for a sale? A dump that large would significantly affect markets.

Most, however, believe this is a routine transfer between two wallets. Or, as mentioned above, it could be a change of multi-sig parties – like an add or removal of a member.

Ultimately, movements this large are always picked up by the crypto community, and we rarely find out the reason for such large movements of money. Nevertheless, this won’t stop the crypto community from running wild with speculation.

Someone moved 30,000 BTC ($193M) in block 541,229 for $0.19 USD H/T @BtcBlockBot from Bitcoin

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