Marathon Digital’s large Bitcoin transfer has raised questions.
According to data provided by Spot On Chain, a blockchain analysis firm, Bitcoin mining company Marathon Digital moved a total of 22,044 BTC on December 17. The total value of the transfer in question is approximately $2.34 billion.
According to the analysis, the transferred Bitcoins were spread across 40 new and unidentified wallets and are currently waiting there.
Marathon Digital’s current Bitcoin holdings fell to 14,364 BTC (approximately $1.54 billion) after this transfer. Mt. Gox, which recently made headlines by moving tens of millions of dollars worth of Bitcoin, made a similar transaction.
While the reason for this large transfer is not yet known, experts point out that such movements are usually carried out by large mining companies for liquidity management or strategic planning. However, in the markets, such high-volume movements can often lead to speculation and increase volatility.
Although the Bitcoin price may fluctuate from time to time due to the impact of large volume transfers, the impact of the transfer on market production or price performance will be more clearly observed in the coming hours.
Stay tuned.