MARA Moves 1,000 BTC to BitGo: What It Means for Bitcoin
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MARA Holdings, a publicly listed Bitcoin mining firm, today moved 1,000 BTC to BitGo in one transfer, sparking speculation that it was preparing to sell. The stash, worth just over $80 million at the time it was sent to the exchange, elicited warnings from some market observers that such new supplies can affect the value of Bitcoin. What On-Chain Data Shows Tracking account Lookonchain was the one that flagged the MARA transfer, using the word “dumped” to describe it. On-chain data it shared in a post on X showed that among a string of small inflows of around 3.12 BTC to 3.14 BTC into MARA, presumably mining reward deposits, an address associated with the miner suddenly moved out about 1,000 BTC with a market value of $80.19 million to a…
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