Mysterious Bitcoin Whale Bought $71M BTC

The third largest in the crypto world bitcoin whale chose to buy BTC this week. In just 7 trading days, the unidentified whale bought 1,800 BTC and spent more than $71 million. Data tracking platform BitInfoCharts has revealed that the BTC whale is the largest over-the-counter buyer of the coin since its existence.

The unnamed whale currently has 125,552 in its wallet worth 4,999,829,118 ($4.99 billion) Bitcoin (BTC) holding. Whale has managed to make good use of Bitcoin’s recent dips below the $40,000 mark by accumulating more crypto.

bitcoin whale

The whale in question looks pretty active this year compared to last year’s buying spree. Whale bought mostly hundreds of Bitcoins in 2021 but prefers to buy thousands of BTC in 2022.

As we reported on Koinfinans.com, the whale bought 1,800 Bitcoins worth $71 million this week alone, while 2,822 Bitcoins worth $117 million last week. Thus, in April 2022 alone, he received 4,622 Bitcoins worth $188 million.

bitcoin

Apparently, this whale address sees the declines in Bitcoin price as an opportunity and continues to buy. If this tactic of the whale is crowned with a possible bull run, it can offer very high profits.

Bitcoin Whale Activities

Leading crypto analyst Benjamin CowenHe noted that whale activity in Bitcoin increased after BTC fell below $40,000. “You can see them periodically adding to their stacks at the low $40,000 and above $30,000 levels here.”

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.

source site-7