Whales Bought $ Billion in Bitcoin via Coinbase

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Whales Bought $ Billion in Bitcoin via Coinbase

Unidentified cryptocurrency whales bought first cryptocurrency equal $ 1 billion through popular crypto exchange

Cryptowhales purchased BTC through the Coinbase exchange in the sum of about 1 billion US Dollars. At least this is hinted at by the Whale Alert bot notifications and on-chain transaction traces.

Last Sunday, February 21, unidentified large buyers made withdrawal over 17 thousand coins of main crypto from the wallets of cryptoexchange. The whales have withdrawn a total of 17,705 BTC.

Bitcoin is Preparing for a Rush

According to blockchain metrics, almost all "small" transactions (350-375 BTC) were intermediary. Finally, all bitcoins were deposited on a wallet with the 3Kzh address.

Who exactly is behind the buying of such a large sums of main cryptocurrency remains unknown. However, it should be noted that earlier MicroStrategy reported on the successful placement of more than $ 1 billion of convertible bonds.

At the same time, the company announced that the funds raised will be used to buy bitcoin, but whether MicroStrategy is really behind the purchase of cryptocurrency is unknown. The company had previously placed convertible bonds to buy bitcoin and made subsequent announcements almost every time.

So far, MicroStrategy has not commented on the use of the raised $ 1 billion.

It is worth noting that this is not the first time large transactions have been noticed on Coinbase. The BeInCrypto editorial staff previously reported that whales began to massively purchase bitcoin and split wallets into smaller ones for cold storage. In early February, the number of bitcoin wallets with a balance of> 1000 BTC and for the first time approached the level of 2500.