Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, has detected just under 10 transactions, transporting a staggering amount of Bitcoin to the Coinbase exchange.
Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, has detected just under 10 transactions, transporting a staggering amount of Bitcoin to the Coinbase exchange.
In total, anonymous whales have contributed more than $800 million worth of Bitcoin to the major publicly traded American cryptocurrency exchange. BTC users in the comments assume that whales are about to start a Bitcoin sell-off now that the Bitcoin Spot ETF has been approved.
Hundreds of Millions of Dollars in Bitcoin Sent to Coinbase
The aforementioned cryptocurrency tracking platform detected seven large Bitcoin transactions, many of them carried out consecutively. The largest of these transfers carried 4,464,4,711 BTC and two contained 2,913 BTC. The largest transfer of these was the equivalent of $221,042,719.
That makes the total amount of Bitcoin transferred equal to 17,291 BTC, and is worth $807.6 million at the time of writing.
Today, after the Securities and Exchange Commission, headed by Gary Gensler, approved spot Bitcoin exchange-traded funds, the price of the flagship digital currency increased by 4.18%, reaching $47,800 and moving one step closer further to the important level of $50,000.
Still, while some whales sell, others accumulate Bitcoin at a high price. The same source above also detected four transactions, with 1,311 BTC each. In total, 5,244 Bitcoins worth $246.6 million have been moved from Coinbase to cold storage wallets.
Max Keizer thanks MicroStrategy founder for Bitcoin ETF
Vocal Bitcoiner Max Keizer, who has supported BTC since 2011, after Satoshi Nakamoto decided to disappear from the public spotlight, took to Twitter to congratulate the founder and former CEO of business intelligence giant MicroStrategy, Michael Saylor.
Thanks to Saylor, MicroStrategy has been gradually acquiring Bitcoin since August 2020 and putting BTC on its balance sheet. Two weeks ago, the company announced another massive Bitcoin purchase, as it acquired an additional 14,620 Bitcoins, paying approximately $615.7 million.
This massive acquisition took place between November 30 and December 26. Both Saylor and Keizer are vocal Bitcoin maximalists. Keizer often criticizes other cryptocurrencies in his tweets, praising the SEC for its statements last year in which he called ADA, XRP and other assets “unregistered securities.”
