The 5th richest Bitcoin address, known as 37X, transferred a staggering $6 billion worth of Bitcoin (BTC) to three new addresses.
The transaction took place in the early hours of Saturday, March 23. The 37X address moved almost its entire balance of 94,500 BTC, equivalent to $6.05 billion, leaving behind only a small amount of 1.4 BTC.
Interestingly, 94,500 BTC had been sitting idle at address 37X since it was acquired in 2019. The sudden movement of such a large amount has sparked speculation and curiosity among cryptocurrency enthusiasts.
The majority of the funds, $5.03 billion in BTC, were sent to bc1q8yj. The remaining balance was split between two other addresses, bc1q6m5 and bc1q592, which received $561.46 million and $488.40 million in BTC, respectively. Notably, the funds from bc1q592 have since been transferred further, adding another layer of mystery to the incident.
Following the transaction, the balance of address 37X dropped to only $92,596.52. At its peak, this address contained approximately $7 billion worth of BTC. The address may belong to an institutional investor or fund.
*This is not investment advice.