Crypto whale empties Bitcoin wallet

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Updated September 21, 2022 | Published December 2, 2020

2 mins read

One of the largest Bitcoin addresses on record, owned by an anonymous individual or entity, has just been emptied, with $415 million evaporating – briefly at least.

The transaction cost just $1.57 to complete and it also raised the question, what is one of the biggest Bitcoin stakeholders up to?

Apparently, the anonymous party has chosen to split their wealth across three addresses, dropping their supremacy on the Bitcoin market.

Albeit their collective wealth probably still exceeds that of the majority of stakeholders in the BTC space.

An interesting thing to note in the transactions is that one supposedly went to an address owned by BetVIP, the self-styled world's first licensed Bitcoin-only sportsbook. The whale decided to send 100 BTC their way.

A second wallet managed to grab 21,346 BTC, and a third wallet received three transactions worth less than one BTC each. All of this information has been made available by BitInfoCharts.

Based on the information provided, the wealthy Bitcoin wallet seems to not have any ties with financial institutions, companies or investors, outside of the link to BetVIP.

While Bitcoin's value has been slowly going up, many wallets have started emptying, especially those holding 10 BTC, or more.

The recent surge in Bitcoin pricing has had a positive impact on the Bitcoin igaming community with most cryptocurrency websites seeing a spike in activities.

Bitcasino, BitStarz and 1xBit remain at the forefront of BTC gaming through the level of quality they are able to provide to consumers. The recent fluctuations in BTC have been good

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Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

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