Bitcoin [BTC] transfer worth $72 million pushes wallet address into the top-50 rich list

Bitcoin [BTC] transfer worth $72 million pushes wallet address into the top-50 rich list

A transaction that involved the transfer of 20,000 BTCs worth in excess of $72.58 million has pushed the wallet in question into the top 50 rich list of Bitcoin holders. The transfer in question happened on the afternoon of February 13, 2019.

Upon checking the transaction on Blockchain.com, it was observed that a total of 25 wallets contributed to the total volume of BTC, which was then aggregated into one, single wallet.

The recipient wallet, “3ACGWkNmZFT8gMzo7vLUtocd8ajCjFW7FX” now has a total of 19,999.9984514 BTC in its custody. The transaction took place on February 13, 2019, at 15:15:56 and the image below shows the wallets that transferred those BTC,

Source: Blockchain.com

The address has now been included in the top 50 Bitcoin rich list wallets, as it is now the 43rd richest Bitcoin wallet address and holds a total of 0.1140% of the Bitcoins in circulation. In comparison, the Bitcoin address at the top of the list holds a total of 138,661 BTC, worth almost half a billion dollars. The said wallet also holds a total of 0.7907% of the BTCs in circulation.

The transaction however, do not suggest a particular pattern to the transfer. These transactions could be coming from a single entity or might belong to an exchange which is sending the BTCs to their cold wallet to make sure the BTCs are not prone to hacks or any kind of breaches.

There have been similar transfers of BTCs which were massive enough to turn a blind eye in the last few weeks. The month of February alone has seen a lot of these transactions, some of these, being were reported by @whale_alert on Twitter,

February 04, 2019: 2,500 #BTC (8,666,396 USD) transferred from Unknown wallet to #Bitfinex

February 06, 2019: 3,233 #BTC (11,034,782 USD) transferred from #Binance to Unknown wallet

February 06, 2019: 1,614 #BTC (5,514,759 USD) transferred from #Bittrex to Unknown wallet

February 07, 2019: 3,000 #BTC (10,201,933 USD) transferred from Unknown wallet to #Bitfinex

February 07, 2019: 3,014 #BTC (10,242,417 USD) transferred from #Bitfinex to Unknown wallet

February 08, 2019: 1,482 #BTC (5,135,241 USD) transferred from #Bitstamp to Unknown wallet

February 10, 2019: 2,500 #BTC (9,146,611 USD) transferred from Unknown wallet to #Bitfinex

February 11, 2019: 1,405 #BTC (5,140,095 USD) transferred from #Bitfinex to #Bitstamp

February 11, 2019: 3,000 #BTC (10,959,632 USD) transferred from Unknown wallet to #Bitfinex

February 13, 2019: 4,309 #BTC (15,645,741 USD) transferred from #Poloniex to Unknown wallet

The fact that Lightning Network has been seeing aggressive adoption that has seemingly solved the scalability issues Bitcoin has struggled with while reducing the transaction fees and clearing up the mainchain/base layer of Bitcoin, have all contributed to an increasing volume of transactions on the Bitcoin network.

With Bitcoin gaining massive adoption, both from retail and institutions, the community speculates that 2019 will be the year of adoption for not just Bitcoin, but for other cryptocurrencies as well.

The post Bitcoin [BTC] transfer worth $72 million pushes wallet address into the top-50 rich list appeared first on AMBCrypto.