Summary
The owner of the 5th richest Bitcoin address moved over $6 billion in BTC to three new addresses, making it the first move since 2019. The address holds 94,500 BTC, and such big holders are often companies. Whales are entities that hoard large amounts of Bitcoin and don’t touch it for years, often sitting on significant gains. Last year saw many whale movements, and investors speculate on massive whale holders who can influence the market. Bitcoin’s price now stands at over $70,000 per coin after reaching a new all-time high earlier this month.
Key Points
1. The owner of one of the largest Bitcoin wallet addresses moved over $6 billion in Bitcoin today, its first move since 2019.
2. Blockchain data firm Arkham Intelligence highlighted the movements on Twitter on Tuesday, revealing that the address is the fifth-richest Bitcoin holder, with 94,500 BTC—over $6.05 billion at today’s prices. The whale moved the BTC to three different addresses, but it isn’t clear who the address belongs to.
3. In the crypto sphere, a whale is a person or entity that hoards huge amounts of Bitcoin (at least 1,000 BTC) and doesn’t touch it for years, often sitting on astronomical gains as a result. Investors often speculate on massive whales who hold billions of dollars in virtual coins, especially when the movements of such addresses move the market.