Crypto whale purported to be Saylor sent over 200K BTC to exchanges in July
A Bitcoin (BTC) whale sent over 200,000 BTC to Coinbase between July 18 and July 21, according to a tweet from CryptoVinco on September 5.
One of the biggest #Bitcoin whales with over 200K+ $BTC sent ALL their coins to exchanges.
I’m 99% sure this is Michael Saylor’s Bitcoin address and they plan to sell everything.
When he sells soon, expect a carnage the likes of which we’ve never seen before. pic.twitter.com/vx643TPAyg
— CryptoVinco (@CryptoVinco) 5 September 2022
CryptoVinco said he is 99% sure the wallet belongs to Michael Saylor, executive chairman of MicroStrategy and a known Bitcoin maximalist.
CryptoSlate could not confirm whether the wallet belonged to Saylor or MicroStrategy.
Typically, Bitcoin transfers to exchanges represent a decision to sell the holding.
Crypto community doubts Michael Saylor’s connection to the wallet
Many in the crypto community are surprised by CryptoVinco’s belief that the wallet belongs to Michael Saylor.
According to community members, the wallet in question contains more BTC than MicroStrategy, which is currently around 129,699 BTC, according to CoinGecko data.
On the other hand, Blockchain explorer data showed that the whale wallet had traded 851 times, received 241,914 BTCs and spent it all. The wallet has a balance of less than $200 at press time.
Michael Saylor has also always maintained that his firm would continue to hold Bitcoin holdings regardless of price developments – proof of this was the purchase of an additional 480 BTC during the bear market.
Other Bitcoin Whales on the Move
A Bitcoin whale address created in 2013, which has been inactive since May 2021, recently moved 5,000 BTC to the Kraken exchange, according to OKLink data.
Transfers of this nature raise concerns about increased selling pressure. However, it could also mean that the whale moved assets to another address.
Meanwhile, CryptoQuant data showed that long-term holders are moving BTC to derivatives exchanges. That means whales can use their assets to set up long positions or secure spot positions by using shorts.
Still, Santiment stated that the number of new wallets with between 100 and 10,0000 BTC increased by 103 in the last 30 days, starting on August 28.
🐳 Like #Bitcoin has danced around $20,000 this weekend, a positive sign is the growth in the amount of key whale addresses. There is a connection between $BTC‘s price and number of addresses containing 100 to 10k $BTCand they have risen 103 in the last 30 days. pic.twitter.com/0ozMBG7Oct
— Santiment (@santimentfeed) 28 August 2022
Bitcoin is currently trading at $19,895. The digital flagship has lost 2.87% of its value over the past seven days and 16.41% in 30 days.
