What happened: $260,891,533 worth of Bitcoin BTC/USD just moved between 2 anonymous cryptocurrency wallets in a single transaction.

The bitcoin wallet address of this mysterious person has been identified as follows: #

$260 million worth of Bitcoin was sent to an unknown recipient, with the Bitcoin wallet address: 1HLsDiYE8P61Z3mwqVuq1xtuoZkJZ8rX7P

Why is this important: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move the markets on their own. If the whale decides to exit this Bitcoin position, there could be enough market impact to push the price of BTC down. It takes around $15-30 million of selling pressure to drive the price of Bitcoin down 2% on any given exchange.

Since this transaction was not sent to an exchange, it is unlikely that this Bitcoin whale is looking for cash. Instead, they can transfer it to another wallet for security reasons.

You can see more details of the transaction here

According to glass knotthere are 219,990 bitcoin wallets with more than $100,000 in BTC.

See also: Best Crypto Apps 2021 and Best Crypto Wallet Trackers

Price Action: Bitcoin is up 2% in the past 24 hours.

See also: How to buy bitcoins

Public Blockchain Data from Twitter Whale Alerts.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.