December 8, 2023

Coinbase withdrawn $ 1 billion worth of bitcoins in 48 hours

On February 21, 13,204 bitcoins were sent from the Coinbase cryptocurrency exchange to unknown wallets, worth justmore than $ 750,000. According to Whale Alert, 36 transactions were made during the hour from 7:00 pm to 8:00 pm, each of which included between 351 and 391 bitcoins.

February 20 on the Whale Alert Twitter accountinformation appeared about the withdrawal of 4501 BTC from Coinbase to an unknown wallet; accordingly, over the last 48 hours, more than a billion dollars worth of BTC left the crypto exchange.

Most likely, the coins were moved to cold storage, with the senders protecting their privacy by creating a new address for each transaction.

Over the past 30 days, these are not the first majorCoinbase Transfers - On January 31st, approximately 15,000 bitcoins were transferred from Coinbase Pro, valued at approximately $ 500 million (at January prices). Then the CEO of CryptoQuant Ki Yong Joo explained this by OTC trades of institutional hodlers, calling it "the strongest bullish signal."

On the whole, he was not mistaken.Tesla later said it had bought $ 1.5 billion worth of bitcoins. Assuming no sales were subsequently made to Tesla, Elon Musk's company would benefit more from this purchase than from the cumulative sales of its cars last year.

Another huge asset management company, BlackRock, has made the decision to invest $ 8.67 trillion in bitcoin from its clients.

Before BlackRock, big investments in bitcoin were made inGuggenheim, whose CTO recently raised its Bitcoin price forecast to $ 600,000. One of America's oldest banks, BNY Mellon, announced that it will add cryptocurrency asset management services to its clients.

Finally, Michael Sailor revealed that his company MicroStrategy will sell $ 1.05 billion in debt securities to buy even more bitcoins.