Fifth-Richest Bitcoin Holder Shifts $6 Billion in Crypto

The owner of one of the most substantial Bitcoin wallets, holding approximately $6 billion worth of BTC, recently made their first transaction since 2019. According to blockchain data firm Arkham Intelligence, the address, ranked as the fifth wealthiest Bitcoin holder, moved its entire balance of 94,500 BTC, leaving only 1.4 BTC behind.

Fifth-Richest Bitcoin Holder Shifts $6 Billion in Cryptos

By [Author's Name]
[Date]

The owner of one of the largest Bitcoin wallet addresses has transferred over $6 billion in Bitcoin, marking the first transaction from that address since 2019.

Blockchain data analytics firm Arkham Intelligence drew attention to the transfer on Twitter, noting that the address ranks as the fifth-wealthiest Bitcoin holder, with a balance of 94,500 BTC, equivalent to approximately $6.05 billion at current market prices.

According to Arkham, the recipient addresses for the transfer were three distinct wallets. The identity of the primary address holder remains unknown, although such large cryptocurrency holdings are frequently associated with institutional investors.

In the cryptocurrency community, a "whale" refers to an individual or entity that holds substantial amounts of Bitcoin (typically at least 1,000 BTC) and maintains those holdings long-term, potentially accruing significant returns due to the asset's price appreciation.

Individuals who acquire Bitcoin or other digital assets and hold them for extended periods tend to achieve the highest returns, as the value of the leading cryptocurrency has consistently grown over time.

The fifth-richest Bitcoin address just moved over $6 billion in BTC to three new addresses.

37X moved almost its ENTIRE BALANCE of 94.5K BTC ($6.05B) in the early hours of Saturday 23rd March, leaving only 1.4 BTC in the address.

The 94.5K BTC had not been moved since 37X… pic.twitter.com/mAjpg0oqnD

— Arkham (@ArkhamIntel) March 25, 2024

In 2019, the price of Bitcoin briefly exceeded $13,000 before declining to close the year at $7,216.

The past year has witnessed numerous whale movements, including one in April where a whale transferred their previously dormant Bitcoin, valued at $11 million at the time, after 12 years of inactivity. Earlier this month, cryptocurrency enthusiasts speculated about a holder dubbed "Mr. 100," who controls over $3 billion in BTC.

Investors closely monitor the activities of large whales holding billions of dollars in cryptocurrency, particularly when such movements impact market dynamics.

Bitcoin is currently trading at a value slightly above $70,000 per coin after reaching a new all-time high of nearly $74,000 earlier this month.

To stay abreast of the latest developments in cryptocurrency, subscribe to our daily email newsletter.

Enter your email address below to receive updates:

[Email Address Field]

Submit