The 38th richest bitcoin wallet, with over 0.1% of bitcoin’s circulating supply in it, has moved its entire 19,630.80 BTC stash, worth over $184 million at press time, to multiple other addresses.

The move was first spotted by cryptocurrency transaction monitoring bot Whale Alert, which pointed out the transaction occurred on Twitter. The fee paid for the initial transaction that moved all 19,630.80 BTC to another wallet was of 0.00421580 bitcoin, or about $40 worth of the flagship cryptocurrency,

After the initial transaction, the address that received the BTC started moving the funds to multiple other bitcoin addresses, in transactions of roughly 195.04 BTC each. Every address that received the tokens now has over $1.8 million worth of cryptocurrency in it.

According to Blockchain data, at least one of the addresses then split the funds into multiple other addresses in transactions of 10 BTC each. These addresses then moved the funds in multiple other transactions to the point tracking them becomes extremely hard.

The 38th richest bitcoin address had been active since November 2018 and had only been accumulating more BTC up until this transaction.

bitinfocharts.pngSource: BitInfoCharts

On social media, users speculated the transaction could have been an over-the-counter trade, or a large holder — such as a custody provider or an institutional digital asset manage — moving their coins in a bid to improve security. Whether any of the coins moved to a cryptocurrency exchange is unclear at this point.

Featured image via Unsplash.