The World’s second-largest Cryptocurrency Whale, Xapo, has in a recent transaction transferred a whopping 96,857 BTC which worth around $1,146,000,000 to two separate wallets, the transfer as reported by Whales Alert attracted a transaction fee of $3.55 which was about 0.0003 BTC.
The 92,857 BTC was sent to a wallet address while another 4000 BTC was sent to a different wallet address, Blockchain.com can confirm. However, cryptocurrency analysts were of the view that Xapo might have perpetrated the transaction for the purpose of securing its customer’s assets.
Xapo is renowned for the extra miles it goes to ensure the full security of its customer’s assets, the crypto whale owns separate bunkers that stores BTC on five continents which include the Swiss Alps.
Coinbase had earlier acquired institutional businesses belonging to Xapo in August 2019 and after sending the coins Xapo now holds 0.0019 BTC while the recipient address “34EiJfy4jGF32M37aQ2ZobupwiRQWa1Siy” whose owner is yet to be identified is now ranked the third largest Bitcoin whale in the world.
US Congressman Says BTC Will Recuperate Rather Than Slope Off
In another development NewsLogical had reported that Cryptocurrency mogul who also doubles as US Congressman, Tom Emmer, made a declaration that Bitcoin will not slope off but rather recuperate as the world recovers from the economic crisis which resulted from the Coronavirus pandemic outbreak.
Emmer made the disclosure during an interview with Morgan Creek Digital Co-founder, Anthony Pompliano. The US Congressman as reported by NewsLogical elucidated that Bitcoin is superior to fiat currencies due to its decentralized nature.
He further pointed out that the present world economic meltdown coupled with unprecedented relief measures which could ultimately devalue the US dollar been embarked upon by the US Government now force investors from around the globe to look for an alternative store of value such as BTC.