Coinbase withdrew about $ 500 million in bitcoins

The Whale Alert service recorded the withdrawal of 14,892 BTC from the Coinbase cryptocurrency exchange.

According to Blockchair,bitcoins were distributed among 100 wallets at 147.8 BTC.

? ? ? ? ? ? ? ? ? ? 14,892 #BTC (483,449,307 USD) transferred from #Coinbase to unknown wallet

Tx: https://t.co/E9hP4YoZJ3

— Whale Alert (@whale_alert) January 31, 2021

CryptoQuant CEO Ki Yoon Joo considers the withdrawal of assets from the exchange "the strongest bullish signal."

Massive Coinbase outflows. 15k $ BTC at 32.4k

Looking at the TX, it went to custody wallets that only have in-going transactions.It's likely to be OTC deals from institutional investors.

I believe this is the strongest bullish signal.

Chart? https://t.co/20Dz85Y5mG pic.twitter.com/W2G7M9lpm1

— Ki Young Ju 주기영 (@ki_young_ju) February 1, 2021

The cryptocurrency community suggested that forthe transaction can be the investment company Guggenheim Partners, Tesla founder Elon Musk, the CEO of the analytical software provider MicroStrategy Michael Sailor or other large investors.

Guggenheim? Elon? Saylor?JP? GS? Anyway, if you sold, it was at this whales.Its like a OTC tranfer from F2Pool to some institution, but nuking the price.

Miners selling exchanges liquidating reloading "cheap" trading desk shorted last 53 hours?

Bullish for #BTC

— @[email protected](@CitadelHyperion) January 31, 2021

In November 2020, Guggenheim Partners announced its intention to channel about $ 500 million to the Grayscale Bitcoin Trust.

Earlier, Michael Sailor spoke about further investment in the first cryptocurrency. At the time of writing, MicroStrategy owns 70,784 BTC worth over $ 2.4 billion, according to Bitcoin Treasuries.

In December 2020, bitcoin investors withdrew $ 3.6 billion from long-term vaults amid rising asset values.

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