Whale Alert recorded a withdrawal of 14,892 BTC from Coinbase.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 14,892 #BTC (483,449,307 USD) transferred from #Coinbase to unknown wallet
— Whale Alert (@whale_alert) January 31, 2021
According to Blockchair, the bitcoins were distributed among 100 wallets, each with 147.8 BTC.
Ki Young Ju, head of CryptoQuant, called the withdrawal 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
Update: According to the Telegram channel Goldfoundinshit, Coinbase, as part of an internal redistribution, simply transferred the coins to new wallets that have not yet entered the exchange’s cluster.
In November 2020, Guggenheim Partners said it planned to direct around $500 million into the Grayscale Bitcoin Trust.
Earlier, about further investment in the first cryptocurrency was discussed by Michael Saylor. As of writing, MicroStrategy owns 70,784 BTC worth more than $2.4 billion, according to BitcoinTreasuries.
In December 2020, bitcoin investors pulled from long-term storage $3.6 billion as the asset price rose.
Follow ForkLog news on Telegram: ForkLog Feed — the full news stream, ForkLog — the most important news and polls.