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Two New Wallets Receive Over 1,100 BTC from BitGo

BitGo transfers over $77 million in Bitcoin to newly created wallets on March 3, signaling large-scale institutional custody management.

BTC

Summary

On March 3, 2025, BitGo transferred 1,124.57 BTC (valued at approximately $77.09 million) to two newly created wallets, with 'bc1qy' receiving 726.08 BTC worth $49.46 million and 'bc1qk' receiving 398.49 BTC valued at $27.63 million. This transfer highlights major institutional asset management activities.

Terms & Concepts
  • BitGo: A digital asset custodian that provides secure storage and transfer services for cryptocurrencies.
  • BTC (Bitcoin): The first decentralized cryptocurrency, used as a store of value and for peer-to-peer transactions.
  • Blockchain wallet: A digital tool that stores the public and private keys allowing users to send, receive, and manage cryptocurrency.