Buying Spree: Third-Largest Whale Buys $170M Worth of BTC in Two Weeks

After buying 321 bitcoins two days ago, one of the largest BTC whales has made another sizeable purchase – this time 408 BTC. As such, their total stash has grown to over 112,000 coins, at least in this one address.

CryptoPotato reported yesterday that the third-largest bitcoin whale had “bought the dip” by accumulating 321 coins at an average price of $40,500. This price tag was less than $1,000 higher than the daily low of around $39,600.
It seems that this whale’s appetite has only increased as bitcoin bounced off in the following hours. On-chain data suggests that they made another considerable purchase hours later.
This time, the mysterious whale added 408 bitcoins. From a USD perspective, this purchase was worth just under $18 million.
As such, this one address’s total holdings have increased to 112,202.59 bitcoins. Keeping in mind today’s BTC prices against the dollar, it means that the stash is worth just shy of $5 billion.
It’s worth noting that this particular whale has been among the most active ones in terms of buying and selling depending on bitcoin’s price movements.
Back in April, when the cryptocurrency surged above $60,000, they sold substantial chunks of the entire holdings.
Once the asset dumped in value and bottomed below $30,000, the whale resumed their buying spree. In fact, they purchased roughly $170 million worth of BTC since the drop from $53,000 to below $40,000 alone.
CryptoQuant’s analyst going by the Twitter handle VentureFounder pointed out that this is the seventh buy since BTC’s days above $50,000 earlier this month.
Bitcoin Whale Address Behaviour. Source: Twitter

Leave a Reply