Are they splitting the coin up into smaller wallets so they do not keep all their eggs in one basket? Any other reasons why?
There is a wide possible range of speculations that we can make when it comes to why whales move their coins around. Firstly, with whales being whales, it could be an attempt at market manipulation, trying to cause some FUDs when big amounts are seen moving on the blockchain. Secondly, although unclear, it could also be a result of coin tumbling, which the big traders use to get their hands on untraceable coins.
Moving huge amounts can be just a market manipulation, now you reminded me about many news articles I have seen
about moving huge amounts of Bitcoins from one wallet to another. It`s very logical when you think about it. In these
articles they talked about addresses and how some of them are exchanges addresses.
Like you say 13abyknight, moving Bitcoins from one wallet to another can be anything. We can just speculate why
someone is transferring so much money. Maybe it`s not polite to know if it`s something personal.