January 17, 2025

at

12:00 am

EST

(Updated:

)

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BTC Billionaire Moves $1.15B

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    bc1qe transfers 11,620 BTC to Coinbase Prime
    bc1qe transfers 11,620 BTC to Coinbase Prime

    Billionaire BTC whale address, bc1qe, deposited 11,620 BTC or $1.15B worth, into Coinbase Prime earlier this morning. Shortly after, the address transferred another 2,502 BTC or ~256M worth to a different Coinbase Prime deposit address. Despite the large outflows, the address still holds 10,115 BTC, or just over $1B worth.

    The majority of bc1qe’s BTC holdings were accumulated during early September when BTC was slowly climbing from $54K to $57K, putting this whale at approximately 80% up on their BTC purchases.

    These transfers could be related to a newly rolled out program by Coinbase to enable Coinbase users to take USDC loans against their BTC holdings. The program is powered by DeFi protocol, Morpho Labs, on Base and more collateral options are expected to be onboarded shortly.

    Coinbase’s new BTC loan program
    Coinbase’s new BTC loan program
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