Whale Moves $1.3 Billion in Bitcoin … the Question Is Why?

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As Bitcoin continues to hold above $9,800, one whale decided now was the time to move more than $1 billion in BTC.

According to blockchain data, an unknown Bitcoin (BTC) trader moved over 132,255 BTC — roughly $1.3 billion — in three transactions just one minute apart on June 11. The cryptocurrency was moved in block 643,133. 

The transactions came as the price of BTC was still under a key resistance level, $10,000. At the time of writing, 1 BTC is valued at $9,887.

The massive volume led to speculation the BTC belonged to an exchange or custodial service with one user on Reddit speculating Coinbase Custody was responsible



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