Breaking News: Bitcoin Whales On Move, 68k Bitcoin [BTC] Moved On-Chain For The First Time In Five Years

Bitcoin

Breaking News: Bitcoin Whales On Move, 68k Bitcoin [BTC] Moved On-Chain For The First Time In Five Years

In a boost for Bitcoin holders and traders in general, it seems like whales are after all not fazed by volatility and heavy price movements for the last few years. CoinMetrics reported that a mega holder moved moved 65,000 BTC after five years.

Most importantly, this was moved within the chain and not to exchanges where there could be liquidated but to another Bitcoin address revealing that these coins are not only active but have not been lost joining the estimated 4 million BTC that can’t be accessed.

It’s a mark of confidence and another main highlighter that the despite the nitty-gritties of being responsible of one private keys, it is possible to be one ‘s own bank, taking control of events.

Craig Wright Is Not The Major Whale

Bitcoin strives on the auspice of decentralization and total control of events. It is based on a perfectly secure and decentralized blockchain which isn’t controlled by anyone party.

Since its launch 12 years ago, the network has continued to flourish, evolving from a primitive network without a marketplace to a complex juggernaut shaped by regulation and a vibrant community.

Although the anonymous Satoshi left the ship in autopilot, it is estimated that he owns 1 million coins.

These coins, many speculate, are lost, and this advice the fear in the community when Craig Wright, the leader of the Bitcoin SV–a hard fork of the Bitcoin Cash network, said he was the true Satoshi Nakamoto and had documents to verify that he was the owner of the 1 million BTC that remains untouched.

Being a critic of Bitcoin, should he had proved and moved the coins, the only path of least resistance was to crash the market by liquidating all his stash.

He argues that Bitcoin has chosen a different path and is not electronic money as designed.

BTC Movement is Timely and Before Halving

Therefore, while the 68,000 BTC can’t measure up to the 1 million belonging to Satoshi, it’s a mark of confidence that these coins are held within the network and marked active approximately two weeks to a halving.

Then, miner rewards will be slashed by half in a scheduled event that will mostly likely shake out weak miners creating room for more efficiency and possible industrialization of the Bitcoin mining scene.

Binance has already announced that it will enter the cryptocurrency mining scene with the launch of Binance Pool.

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Breaking News: Bitcoin Whales On Move, 68k Bitcoin [BTC] Moved On-Chain For The First Time In Five Years
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Breaking News: Bitcoin Whales On Move, 68k Bitcoin [BTC] Moved On-Chain For The First Time In Five Years
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After 5 years, this Bitcoin whale moved 68,000 BTC. These coins are now active, not lost, and is just 15 days to a halving event.
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CoinGape
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Author: Dalmas Ngetich
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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Dalmas Ngetich 335 Articles
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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