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August 9, 2022
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More than $ 208 million in Bitcoin has been moved by an unknown identity

Wealthier investors have increased their pace in the movement of Bitcoin

The odds in favor of Bitcoin exceeding $ 60,000 are rapidly gaining ground, considering that wealthy investors have increased the pace in the movement of the most popular cryptocurrency in the world.

Large entities are moving a significant portion of their BTC stakes, as a wealthy investor moved 3,554 BTC worth $ 208 million in block 675,398 a few hours ago.

“Whale alert! 🐋 Someone moved 3,554 BTC ($ 208M) in block 675.398 ”

The flagship cryptocurrency is the first successful global financial peer-to-peer implementation that allows everyone, no matter who or where they are, to store and exchange value with others.

Traders are instrumental in cryptocurrency for payment transfers, as it offers much faster and cheaper options than conventional services and banks.

At the time of writing, the cryptocurrency was trading at $ 58,552.96 on the FTX exchange, with a daily volume of $ 47 billion. Bitcoin rose 1.16% on the day

As large entities accumulate BTCs, the circulating supply of Bitcoin decreases, and this could weaken any bearish trend in which Bitcoin finds itself.

The flagship cryptocurrency has received more endorsements in recent weeks from top-tier companies like Mastercard and America’s oldest bank, BNY Mellon, which has shown support for Bitcoin. Mastercard had previously disclosed that it would open its network to some cryptocurrencies, including Bitcoin.

PayPal and the world’s largest asset fund manager, BlackRock, have also made major moves to support the cryptocurrency.

It also means that, over time, it is possible that, as the world’s most popular cryptography approaches its fixed supply of 21 million, the price of BTC will rise, with the current demand for BTC included.

Source: Nairametrics

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