Bitcoins Worth $193 Million Moved By Single Individual

Bitcoin lovers are curious after a recent activity involving the transfer of the crypto in large numbers from a huge wallet. An unidentified individual transferred approximately 30,000 of bitcoin from a wallet that still has about 168,789 bitcoins. The transferred bitcoins are valued at $193 million.

At the moment, players are very keen to note anything that might affect the entire market. Bitcoin lovers cannot be keener considering that at the moment, bitcoin has shuttled on the path of bulls and bears.

It emerged that the movement of the cryptos was in two phases. At first, 30,000 bitcoins was moved from a wallet. Speculations are rife that the wallet belongs to Bitfinex. Notably, this movement did not cause any speculations in the market since there is a chance that the owner had done enough to deal with any concern raised by Bitfinex. However, the second transfer is causing ripples in the market with many left with unanswered questions.

There was another transfer of 30,000 bitcoins valued at $193 million and the transaction is shrouded in mystery. It is not clear who owns the wallet or the individual at the center of the transfer. The movement has been linked to a possible huge sale coming in the near future. Many are observing the movement since if such a sale occurs, it will definitely have an impact on the market. It will lead to disruptions since it will look dumb.

Impact of the Huge Transfer

It is important to note that the impact of the sale, is the least concern of many.  The transaction fee has left many questions. Interestingly, the owner of the 30,000 bitcoins only used $0.19 in transaction charges. The figure is simply unrealistic in comparison to what ordinary bank will charge for this type of transactions.

Bitcoin players have gone ahead to try and determine who owns the cryptos. A section has made reference to a recent case involving the FBI where the bureau confiscated 30,000 bitcoins during a probe. The 2014 incident saw the bitcoins being sold to Tim Draper.

More assumptions are still being thrown around with a section of people choosing to relax. A different group argues that the huge transaction might be a normal occurrence. Some individuals believe that an ownership group might be having intentions of adding or eliminating a co-signer from a multi-sign venture.

Normally, the crypto world is always keen and such happenings must be noticed. It is expected that we are going to have different speculations. Only time will tell the impact of the transaction.

2 years ago

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