The 850 thousand BTC whale transferred is Coinbase, a total of billions of dollars worth of bitcoin

Last week, many people would have noticed a whale suddenly transferred nearly 850 thousand BTC, calculated according to the current price, these bitcoin worth billions of dollars.

On Tuesday, the 1PnMfRF2enSZnR6JSexxBHuQnxG8Vo5FVK address in BTC 66452 is directly transferred to another address, then was assigned to an average of 100 addresses, each address contains 662.52 BTC, while another address is received 200 BTC.

According to the statistics of BitInfoCharts, the address was ranked ninth in the bitcoin address.

In addition, another whale address (including 66379 BTC) started in the same way split, and distributed to the other 101.

A few days later, we found that there will be a lot of bitcoin compiled 107 contains 8000 BTC address, involving a total capital reached 107 * 8000 = 856 thousand BTC, this magnitude has reached the peak of MT.GOX degree.

So, what exactly is the whale with such strength?

Some people through the analysis, these bitcoin belongs to the website, some of which address involved were labeled with bitinfochart for wallet address, but in fact this analysis is not realistic, reality is provided by the BTC donation address 15B8iGCndPacYsvLqrTNL4LqjHo7JX752h, which has received only 2.21485713 BTC, and is received immediately after dispose of, according to co-founder of fish pond God that is likely to be the direct use of the Coinbase service.’s own BTC store? This is not realistic.

In fact, as early as the end of November, Coinbase on its official blog published a notice, said: “in the next seven days, Coinbase will be on our platform for regular maintenance, which may lead to all Coinbase support block chain (assets) move. These activities are controlled, and closely monitored, to provide better security for our customers……”

And the large BTC above the transfer occurred at a time when in December 1st -12 month 6 days, exactly the time points mentioned in the announcement of Coinbase.

Plus the transaction associated with the about 13000000 address of this information, in line with the address of the Coinbase number.

The above evidence sufficient to show that the 856 thousand BTC belongs to the Coinbase platform and the majority of users.

So, why did Coinbase make so big action?

Personal speculation, in the current market, bitcoin transaction cost is very low, which can be said to be a good time, finishing in addition, finishing funds are transferred from the left “BC1” address to the SegWit address, which can effectively reduce transaction costs. The redistribution of the wallet, can disperse the single point of failure risk, this is a kind of common financial network security strategy.

I want to say is, for large bitcoin transfers, we should not over to interpret history, in fact, many times the bitcoin large transfers, ultimately proved to be the exchange in the finishing wallet.

Leave a Reply

Your email address will not be published. Required fields are marked *