Anonymous Bitcoin Whale just moved $62 million in BTC from Coinbase

Pic source:https:benzinga.com
What happened: A Bitcoin BTC/USD whale just sent $62,741,214 in Bitcoin out of Coinbase.

The BTC address associated with this transaction has been identified as: 1ErLttUk5wjw8i4hTTyiQCZPkxqnTXfFjq.

Why it matters: Bitcoin Whales (investors who own $10 million or more in BTC) usually send cryptocurrency from exchanges when they plan to hold their investments for an extended period of time. Storing large amounts of money on an exchange presents an additional risk of theft, as exchange wallets are the most sought-after target by cryptocurrency hackers.
The best way to secure Bitcoin is to keep it in a hardware wallet, which cannot be done through holding digital assets on an exchange. Hardware wallets store one's private keys on an offline device, making it impossible for funds to be hacked over the internet.

According to Glassnode, only 12.22% of the total supply remains liquid on all centralized exchanges.