Almost $1 Billion Worth Of Bitcoin Was Just Transferred Between 2 Wallets

What happened: $949,670,920 worth of Bitcoin BTC/USD was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person's bitcoin wallet address has been identified as: 3GNUK7wBUjDQYv8RnBa9qJ5u9igLdLbPdh

$950 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1qceljac44mjpyv4ssynf6ysz9f8q9pz3p46czje

Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.

Since this transaction wasn't sent to an exchange, it's unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.

You can view more details about the transaction here.

According to Glassnode, there are 574,214 Bitcoin wallets with a balance of over 100,000 coins.

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Price Action: Bitcoin is up 4% in the past 24 hours.

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Public Blockchain data sourced from Whale Alerts Twitter.