However, their movement may upset some, as the address holder of these BTCs under the code “1QHvbR” were transferred to the wallet of major U.S.-based exchange Kraken.
According to the general consensus among crypto-market participants, such transfers are interpreted as the intention of a large investor to sell their assets by moving them from their own custody to a liquid cryptocurrency buying and selling platform.
This was likely the reason in our case, as the transfer occurred on the day Bitcoin hit a new high. Back in March, the price of one BTC was less than $100, and the cryptocurrency itself had just experienced its first bull run.
But 12 years later, the price of Bitcoin is already over $75,000, and the asset itself is a full-fledged, institutionalized financial instrument with tens of millions of holders and a capitalization of nearly $1.5 trillion.
However, this unknown Bitcoin investor did not transfer all 235 BTC to Kraken, and most of the position remained in his wallet. Now, according to on-chain data, “1QHvbR” continues to hold 125.55 BTC, which equals about $9.31 million.
The question is whether these Bitcoins will be realized on some exchange, or whether the unknown investor will disappear again for a few years before resurfacing.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
