It is the story of 100,000 Bitcoins, finally 101,266 BTC, which logically should have remained unnoticed. But, in a market that kept falling, this operation was overhyped, and even interpreted. But what really happened?
Transaction of more than 100,000 Bitcoins to Binance’s secure wallet
On June 18, 2022, a transfer of 101,266 Bitcoins was spotted on the bitcoin blockchain network, to a wallet. This represents no less than 2 billion euros at the current Bitcoin price. These 100,000 Bitcoin who change their wallet were quickly identified: they joined the Binance wallet directly. Immediately, investors believed it was a massive purchase of bitcoins. And this news has been widely relayed in social networks. Internet users have even specialized in tracking crypto transactions. They are often the first whistleblowers. Here, the info was even picked up by influential media (like CoinNews).
Speculations were quickly denied
But, in the face of increasingly insistent rumors, which have certainly misled investors, the CEO of Binance reacted in person to put an end to speculation. Changpeng Zhao said on Twitter that this is not a purchase from Binance directly, but a transfer of Bitcoins. Indeed, Binance chooses to regularly transfer Bitcoins to its cold wallet. It is an offline wallet, and therefore more secure. This reduces the risk of hacking by malicious hackers.
Read also Dogecoin price prediction – DOGE may never reach this price again according to its founder
After this cold shower, investors did not have much to put in their mouths. The only positive point of this fake news quickly denied: the Binance CEO explained that his company systematically reinvests exchange fees into the purchase of new bitcoins. That’s a small consolation!