$1 Billion Bitcoin Move, is it VanEck?

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Vaneck exec

Some one billion dollars worth of bitcoin have been moved today to a new address that has just been created.

The transaction was made at 3:30 AM London time this Friday September 6th from multiple addresses to a new one.

Who made this transaction or why is unclear, but $700 was paid in fees at an unusually high rate of 480.115 sat per byte.

The funds appear to come from an address created in 2016. That address usually received bitcoin in the amount of ₿15,000 or so, but sometime withdrew.

It looks like they still have all their BCH and BSV while at times they transferred BTC perhaps to sell or pay.

Meaning this might have been some sort of dormant cold wallet that now has come back alive.

From patterns there is no clear indication of what sort of wallet this is. There is no obvious suggestion of it belonging to an exchange or some other service provider, with it looking more potentially like a trade wallet or an investors’ wallet.

It seems they accumulated in 2016 and then just held on to it, with a completely out of thin air guess being perhaps VanEck.

The VanEck SolidX ETF was to start trading this September the fifth with a fully bitcoin backed ETF offer limited to institutional investors.

The address, on the surface at least, does look like someone was buying random smallish amounts of 100 BTC or so back in 2016. So considering the timing as well, it would fit.

There is no hard evidence it belongs to VanEck, however, but if it does, that’s quite an entrance for the first bitcoin fully backed institutional ETF.

Copyrights Trustnodes.com

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