Someone just sent $742 million in Bitcoin to an unidentified wallet.

What happened: In a single transaction, $742,459,249 worth of Bitcoin BTC was transferred between two anonymous cryptocurrency wallets.

The bitcoin wallet address for this unknown individual is bc1qktkgnv6hwyd4sddxpkcq5z3taxh97f2crhknz0g42we6h4e3sa8qxzrk65.

Bitcoin worth $742,459,249 million was delivered to an unidentified recipient with the following Bitcoin wallet address: bc1qujmfpqzgz208d0uycpjyx8uad2ddjuqut70ttpz35gs2n6gflguqajk8d3

Why does it matter? Cryptocurrency whales with millions of dollars in Bitcoin have a tendency to impact markets on their own. If the whale decides to abandon this Bitcoin position, the market effect might be significant enough to drive the price of BTC down. To bring the price of Bitcoin down 2% on any given exchange, it requires between $15 to $30 million in sell pressure.

This Bitcoin whale is unlikely to be searching for liquidity because this transaction was not sent to an exchange. For security reasons, they may be moving information to a separate wallet.

More information regarding the transaction may be found here.

There are 571,895 Bitcoin wallets with a balance of over 100,000 bitcoin, according to Glassnode.