MicroStrategy Transfers 132,382 BTC. BTC Still Stagnated at The 20K Mark

  • MicroStrategy moves 132383 Bitcoin to different major exchanges.
  • The move, unlike in the past, barely made any impact on the bitcoin price.

MicroStrategy is one of the institutions holding the most bitcoin. In fact, it holds more than any other firm. This, according to analysts, might change soon. Data released by CryptoQuant, a blockchain analytic firm, shows that MicroStrategy has moved about 132,382 Bitcoin. At the time of press, and BTC is priced at $22,713. MicroStrategy sold the 132,382 BTC at a price of $21,687 each. This would make the total price for Bitcoin add up to 2.87 billion worth of BTC.

There are two single sig addresses the institution is known to be storing all its BTC. One of the wallets belonging to the firm (1p5zedwtktfgxqjzphgwpqupe554wkdfhq) is the one registered by CryptoQuant to have moved the huge sum of BTC. The coins were moved to several major exchange accounts such as Coinbase.

There is no official statement from Michael Saylor or his firm explaining the transfer. However the firm is expected to release a report soon, and the transfer is expected to be captured in the report.

Read more on this here.

MicroStrategy whale-move effect on BTC.

Since this whale move, nothing much has happened around the market. The coin is still stagnated at the $20 mark currently trading at $22,713. This is only a 6.21% gain in the last 7 days. During the same time, the coin has only managed to go as high as the 24k mark and on the other side hit lows of slightly below 20k.

This has been one of the worst crypto winters in the last few years. Last year the coin was rallying in the ATH zone and since then lost over 2 thirds of its value. Pundits and analysts are optimistic this is going to change soon and the coin will be looking to hit the 100k mark.

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