Anonymous Bitcoin Whale Just Moved $65M Worth Of BTC off Coinbase

The BTC address connected to this transaction is known as 1JywLC87mQTvCW8XREmjSWTzG8nAXbp2Jh.

Why it Matters

When seeking to hold their investments for a long time, Bitcoin "Whales" (investors who own $10 million or more in BTC) usually send cryptocurrency from exchanges

Since exchange wallets are the most popular target for cryptocurrency hackers, keeping big sums of money on an exchange increases your risk of theft.

In contrary to holding digital assets on an exchange, the best approach to secure Bitcoin is to store it in a hardware wallet

Hardware wallets prevent money from being stolen via the internet by storing private keys on an offline device.

Only 12.18% of the entire supply is still liquid across all centralised exchanges, according to Glassnode.

The absence of BTC from an exchange lessens possible sell-side pressure, facilitating easier price growth for Bitcoin.