This mysterious person’s bitcoin wallet address has been identified as: bc1q6cu2krmhgqfr6zhyt2emys5hd0pwdtwdtglngq
$771 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1q5qcrx8uvp79ku5pg3hnkt57shgu5tffra9lfxe
Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC.
It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.
Since this transaction wasn’t sent to an exchange, it’s unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.
According to Glassnode, there are 460,369 Bitcoin wallets with over $100,000 in BTC.
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