Another Big Bitcoin Move: Over $5 Billion Moved In Minutes
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Over $5 Billion Worth of Bitcoin Moved in Minutes; What Happened?
So why are the funds moving? What does it mean for Bitcoin? And who is the entity playing around with hundreds of millions worth of the leading cryptocurrency?
Well firstly, to clarify, the funds were not being moved by multiple entities. As The Block’s head of research, Larry Cermak, pointed out, “it’s the same address constantly moving the same stash. The 55,337 BTC (~$410.6M) is now parked in this address,” then drawing attention to a new address in which there are thousands of coins deposited at.