New Bitcoin Wallet Abruptly Receives $195,000,000 in BTC – Heres Where the Crypto Is Coming From

Friday 18 September 2020, 8:12 AM AEST - 1 month ago

A mysterious Bitcoin wallet just received $195 million worth of Bitcoin (BTC) out of the blue.

OKEx, a Malta-based cryptocurrency exchange, fired off four transactions – three 5,000 BTC transactions and one 3,000 transaction – to the same unknown wallet. The four transactions processed within two and a half hours of one another.

5,000 #BTC (54,281,055 USD) transferred from #OKEx to unknown wallet


— Whale Alert (@whale_alert) September 16, 2020

The total transaction cost for the four transactions was 0.0141613 BTC, worth about $154.40 at time of writing, according to CoinMarketCap.

Each of the transactions from OKEx originated from different addresses, and the unknown receiving wallet now holds 20,000 BTC in total. It received its first batch of crypto on September 16th, and is now the 38th largest Bitcoin address in the world, according to BitInfoCharts. The largest address in the world, the cold wallet for the crypto exchange Huobi, holds 227,502 BTC, worth nearly $2.5 billion.

The transfers could represent a large institution or a buyer moving assets off the exchange. It could also be OKEx itself moving funds on behalf of its customers, although Whale Alert is designed to filter out such transactions.

The crypto analytics firm Glassnode reports that the number of entities with a balance of greater than 1,000 BTC continues to increase, despite an uneven month for Bitcoin price-wise.

The number of #entities with a balance of >= 1k $BTC continues to increase. #Whales

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