Why a massive $9 billion of bitcoin moved in one hour

Posted by Richard Garcia on December 05, 2019 - 3:12pm

It didn't take long to find who was behind yesterday's major bitcoin movements.

2 min readDec 5, 2019

A total of 1.3 million bitcoin (BTC) worth almost $9 billion was moved on-chain in a single hour yesterday. Despite this, the price of bitcoin is currently holding steady at around $7,300, after briefly spiking to more than $7,500 yesterday.

According to Rafael Schultze-Kraft, cofounder of on-chain market intelligence firm Glassnode, this is the highest hourly USD transaction volume in bitcoin's history. But who was moving so much bitcoin around? And why?

https://decrypt.co/12864/why-a-massive-9-billion-of-bitcoin-moved-in-one-hour

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Gerald Roberts Speculation states cold storage upgrading, or testing the markets reaction to the move one might consider. $12 In transaction transfer fees, blockchain flexing some muscle.

December 7, 2019 at 4:43pm

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