hen Bitcoin broke through $40,000, the whale transferred $500 million in BTC

When Bitcoin broke through $40,000, the whale transferred $500 million in BTC

An encrypted whale transferred $500 million worth of bitcoin after the price of bitcoin soared above $40,000. Whale Alert data shows that on January 7, when the Bitcoin price exceeded $40,000, an anonymous trader transferred 12,598 Bitcoin in three separate transactions. The anonymous wallet address first transferred 4,892 bitcoins, followed by 4306 and 3400 bitcoins. These bitcoins were worth about $500 million at the time. With the exponential growth of Bitcoin prices, whale trading has occurred frequently in the past few weeks. The massive transfer of funds has sparked discussions among Washington lawmakers who are trying to combat cryptocurrency tax evaders. The U.S. Treasury Department announced a proposal last month requiring crypto exchanges and companies to collect the identity data of customers whose transaction amount exceeds $3,000. This controversial proposal has been criticized by the encryption community. (CryptoGlobe)