$11B BTC Whale Returns With Massive $360M Transfer

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The massive whale previously rotated about $5 billion worth of Bitcoin into Ether after holding the BTC stash for seven years.

A Bitcoin whale that held about $11 billion in BTC before rotating more than $5 billion of the stash into Ether two months ago has returned to the cryptocurrency market, with another $360 million Bitcoin transfer.

The whale address transferred $360 million worth of Bitcoin into decentralized finance (DeFi) protocol Hyperunit’s hot wallet “bc1pd” on Tuesday. This marked their first transfer in two months, according to blockchain data platform Arkham..

The transfer may signal another rotation into Ether based on the whale’s transaction patterns. 

The $11 billion Bitcoin whale emerged two months ago and rotated around $5 billion worth of BTC into Ether, briefly surpassing the second-largest corporate treasury firm, Sharplink, in terms of total ETH holdings, Cointelegraph reported on Sept. 1.

The whale still held over $5 billion worth of Bitcoin in their main wallet as of Wednesday, signaling more potential selling pressure for the world’s first cryptocurrency.


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