$521,196,758 Bitcoin Moved Anonymously As Price Remains Under $80,000

Data shared by the prominent blockchain tracking platform, which traces down large cryptocurrency transfers, Whale Alert, has reported a massive crypto transaction that took place less than two hours ago. The transaction carried slightly more than half a billion dollars' worth of Bitcoin.

Half a billion USD in Bitcoin on the move

The aforementioned data source spread the word about an impressive 6,632 $BTC getting moved over the past two hours. At the time of the transaction, this amount of bellwether crypto was valued at a mind-boggling $521,196,758. The mysterious transaction was made between two anonymous wallets.

The anonymous nature of this mammoth transfer could be explained by either an OTC Bitcoin sale or a whale simply reshuffling his Bitcoin stash as he moved part of his $BTC to another crypto wallet.

Meanwhile, the flagship cryptocurrency continues to trade sideways under the $80,000 level and at the time of this writing, it is changing hands at $78,660 per coin. Between Wednesday last week and Monday, Bitcoin lost more than 16% of its price, crashing from $$90,045 to the $$75,430 zone. By now, however, $BTC has pared some of its recent staggering losses.

$BTC collapsed along with the recent market leaders – gold and silver. On January 30, both precious metals lost around 30% in a single day after reaching new all-time highs above $5,000 and $100, respectively.

Tim Draper explains his bullish Bitcoin stance

Renowned investor Tim Draper, known for his early prominent tech investments in Skype, SpaceX, etc, has taken to his X account to clarify his investment strategy. As he is also a well-known Bitcoin bull, Draper also spoke about $BTC in his tweet.

Draper revealed his secret to successful investments. “I fund rebellions,” he stated, meaning that he invests in founders, whose startups “tear up the status quo.” “Their ideas may sound crazy to you today, but they are inevitably shaping the future,” he added, likening such funding to “a controlled explosion.”

Among these investments, he named Bitcoin, which “challenges industries to make them better.” In particular, he mentioned that “banks now custody Bitcoin” after they had long fought against $BTC.

His other investments have also proved revolutionary: Slack, Tesla, Max Space. “That’s the kind of unexpected innovation that lifts entire industries,” Draper tweeted.