$200,000,000 Bitcoin In Less Than Just Hour – What’s Happening?

Blockchain sleuth Whale Alert, known for actively monitoring large cryptocurrency transfers and sharing their details on its website and X account, has spotted two major transfers made from a top US crypto exchange, Kraken.

Close to $200,000,000 worth of Bitcoin changed hands anonymously. Meanwhile, the world’s flagship cryptocurrency

$197.3 million in Bitcoin leaves Kraken into the unknown

The aforementioned source of on-chain data shared the details of two massive cryptocurrency transfers, which carried 875 BTC and 997 BTC worth $92,353,820 and $105,083,368. This sum slightly exceeds $197.3 million in the fiat equivalent.

The transactions were made within a single hour with a small pause between each other, according to Whale Alert. Apparently, these were whales accumulating Bitcoin on the current dip.

Is Strategy hinting at new Bitcoin purchase?

Michael Saylor, a co-founder and the executive chairman of the Bitcoin treasury company Strategy, has caught the attention of the crypto community with a BTC-themed tweet, stating “Send more orange.”

In that tweet, Saylor shared a screenshot from the Saylor Portfolio Tracker website, which basically tracks down changes in Strategy’s Bitcoin portfolio and shows multiple orange dots at times when the company made yet another BTC accumulation.

Weekly Bitcoin acquisitions have already become almost traditional, when Saylor posts a similar tweet about “orange dots” on Sunday and then on Monday Strategy announces a new Bitcoin purchase. Last week, it bought 705 BTC, paying approximately $75.1 million for that crypto purchase.

Earlier today, Saylor published another Bitcoin-themed tweet, stating: “₿e The Change” with the “B” letter having four vertical strokes meaning “Bitcoin”, while over the past 24 hours, BTC has dropped a little, now trading at $105,611 after losing the $106,400 zone.

Strategy expects to raise $1 billion to buy more Bitcoin

On Friday, Strategy published a tweet, informing the community that it decided to upsize its recent fundraising deal from $250 million to $979.7 million, planning to raise that much from selling STRD (Strike Perpetual Preferred Stock) shares to institutional investors.

The shares will be issued on June 10, according to the press release published by the company. The proceeds will be used for acquiring an additional portion of Bitcoin, the document stated. After the recent acquisition, Strategy already holds a whopping 580,955 BTC worth $61,368,426,183.