According to data from Arkham Intelligence, the address “bc1qmpn” originally appeared on on-chain radar two weeks ago, when it landed 16.87 BTC, equivalent to $1.01 million.
The funds came from another unknown address under the name “bc1qcacv.” Then, eight days later, the new whale received another 176.616 BTC, worth another $10.63 million, and its activity stopped for a while.
However, in the last 24 hours, an unknown large player began to aggressively absorb Bitcoin again, and from the same address where they initially received it. As a result, the total share of their holdings of the main cryptocurrency came to a mark equivalent to colossal $770.49 million.
It is known that the first address that sent funds to “bc1qmpn” received its first BTC from a wallet that could presumably belong to Fortress Trust, a crypto custodian and trustee.
However, whether this colossal amount of Bitcoin, which could be worth over a billion and a half dollars cumulatively, belongs to this company cannot be said for sure. It is possible that the funds belong to one of the trustee’s clients.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
