12,000 BTC are withdrawn from Coinbase in one hour

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Avatar for Luis2020Diaz
1 year ago
Topics: Cryptocurrency

Coinbase is the largest exchange in the United States, which allows the vast majority of its citizens quickly, easily and safely buy Bitcoin and other cryptocurrencies. A short time ago he had the approval to be listed on Wall Street, which has made many people in the United States put more trust in him when making purchases and sales of cryptocurrencies. This puts Coinbase as the main exchange to buy Bitcoin so far this year.

In the last few hours a withdrawal of 12,354 BTC was recorded, and many may ask why this sudden outflow of BTC?

One of the main hypotheses is that users want to save their Bitcoin in the long term since a new increase may be close to which it will reach new highs.

This movement have been done by several small investors or by an institution that wants to have control of their Bitcoin.

Many people and financial institutions see Bitcoin in these times of financial uncertainty, as a store of value for part of their capital. Although there are other cryptocurrencies, where people and institutions also have investments or plan to do so.

When people have control of their private keys, they will have their Bitcoin or cryptocurrencies in their possession, but if someone else has them, they are not very safe.

A good example of this is the attack that Exchange Hotbit suffered recently and that until now has a large part of its users waiting for them to have their funds back.

You can answer in the comments: Are you in control of your private keys?

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