Grayscale Transfers $43.14 Million in BTC to Anonymous Addresses

IconCryptoNewsTerminal Staff30 Aug, 2024

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Grayscale Transfers $43.14 Million in BTC to Anonymous Addresses

Grayscale Investments, a leading digital asset management firm, has moved $43.14 million worth of Bitcoin (BTC) from two of its largest funds to two unknown addresses. According to data from Arkham Intelligence, the Grayscale Digital Large Cap Fund (GDLCF) and the Bitcoin Mini Trust (BMT) transferred a total of 1,412.715 BTC to the addresses. The GDLCF transferred 712.715 BTC to an address starting with "bc1qyu," while the BMT transferred 700 BTC to an address starting with "bc1qf0.” The addresses do not belong to any known cryptocurrency exchange or wallet service. The transfers, which took place over nine hours, have raised questions about Grayscale's investment strategy and the potential impact on the Bitcoin market. However, Grayscale has not yet commented on the transactions.

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