Xapo Transfers 96,857 BTC To Two Different Wallet Account
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Xapo Transfers 96,857 BTC To Two Different Wallet Account

August 8, 2020      Jyoti Singh

A total of 96,857 BTC worth $1,146,000,000 has recently been transferred into two separate wallets by Xapo, reports Whale Alert. 

While making the transaction the world’s second-largest Crypto Whale paid the fees of $3.55, which was soon noticed by the Whale Alert.

Later, Blockchain.com also verified that Xapo has transferred 92,857 BTC to a wallet address, and the remaining it has moved to a different address.

Xapo Concerned About Security Of Customer’s Asset

The crypto analysts in the space stated that since the time, Xapo has been operating, it has remained very particular regarding the security of its customer’s assets. There is a possibility that to secure the assets of its customers, the crypto whale intentionally transferred the BTCs to two different account wallets 

Notably, Xapo is very much concerned regarding the security of its customer’s asset, therefore, it bought separate bunkers in five continents and one of those bunkers is in the Swiss Alps.

In August 2019, the San Fransisco-based crypto exchange Coinbase obtained Xapo’s institutional businesses. After that Xapo transferred its coins to an address, and currently, the owner of that address is the world’s third-largest Bitcoin whale. 

It has been reported that after the Xapo transferred the BTC, it was left with only 0.0019 BTC.

US Congressman Trusts Bitcoin

A report published earlier stated that the US Congressman Tom Emmer believes that as the world would start recovering from the economic crisis, Bitcoin, which most people claims will go down, would instead start recuperating.

During his interview with Anthony Pompliano, the Co-founder of Morgan Creek Digital, the US Congressman claimed that compared to fiat currencies, Bitcoins are better and this is because the world’s largest cryptocurrency is decentralized in nature.

Additionally, he said that soon the value of the US dollar might start decreasing because of economic meltdown and unprecedented relief measures. If that happens, the investors around the world would start looking for an alternative store of value. 

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Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.