On July 24, 2019, a giant whale/institution withdrew 14,000 BTC from Xapo Bank, and in the last day, 14,000 BTC ($1.523 billion) have been transferred.

People are starting to speculate about key recovery, just being released from prison, etc. 😂

However, I believe this transfer of 14,000 BTC is most likely just an address format upgrade transfer operation (upgrading from traditional addresses starting with 1 to addresses starting with bc1q that support SegWit), because these BTC are held by Coinbase Prime.

Of course, this 14,000 BTC has appreciated 11 times compared to when it was hoarded in 2019: when withdrawn from Xapo Bank in 2019, the BTC price was $9,936, and now the BTC price is $108,800.

Addresses:

bc1qul68d3qeqhxa2kq8yrs0l85awu8v7hp2l3pdag

bc1q80h3q90uq0297wxv4rnx67mzcwanwp9pd489uf

bc1qzmx9spvnkx3s78v03kswv4xtzp88tem5e5m08j