Earlier today a whale moved a massive $1.3 billion in Bitcoin (BTC), sending the crypto world into a frenzy of speculation. 

With BTC still hovering just below the magic $10K mark, according to blockchain.com data, an unknown Bitcoin trader moved over 132,255 BTC, worth approximately USD $1.3BN, in three transactions over the space of a few minutes. 

Many suspect the unknown entity was an exchange or custodial service, with some suggesting Coinbase as a likely candidate. 

Though a record in terms of fiat value, it is not the biggest movement in terms of number of BTC – that record was set way back in 2011, when a mind blowing 500,000 BTC was shifted. Of course, at the time it was ‘only’ worth $1.32 million. However, at today’s prices, it would be worth a jaw dropping $4.9 billion! 

AYO.NEWS says:

With so much instability in the world right now, and the COVID-19 crisis seemingly having triggered mass social unrest and an unprecedented economic catastrophe, many are expecting Bitcoin to embark on a dramatic bull run. 

Just yesterday we reported that the European Central Bank (ECB) is preparing for a tsunami of job losses and bad debt across the continent, while in the United States record unemployment and spreading social unrest is the backdrop for constant money printing, as the authorities attempt to stave off economic and financial collapse. 

Was today’s major BTC movement a signal of further preparations on the part of crypto firms? Interesting times.

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