Thursday, January 27

World’s Third Largest Bitcoin Whale Buys Over 2700 BTCs During Fall | Bitcoin Portal


The person or institution behind the world’s third-largest bitcoin wallet has taken advantage of the recent BTC crash to further increase its cryptocurrency reserve.

When bitcoin was quoted at around US$ 50,600 on Monday (6), the whale — a term referring to an investor who holds large amounts of cryptoactives — bought another 2,702 BTC, equivalent to US$ 136 million.

Public blockchain data tracked by BitInfoCharts show that the new acquisition raised to 118,017 BTC the amount held by the whale, an amount that exceeds $6 billion.

As a ministry is behind this address in question, it is possible to say that this is the richest anonymous whale in the world. However, that doesn’t mean it holds the biggest bitcoin wallet that currently exists.

Overall, the portfolio is in third place in the Bitcoin Rich List, second only to addresses whose holders are already known in the market and which belong to the Binance and Bitfinex exchanges.

The latest acquisitions of the world’s third largest bitcoin whale (Source: BitInfoCharts)

Whale Buying Trend

Monday’s purchase proves that the whale is continuing its pattern of buying the falling bitcoin. During a cryptocurrency fix in late September, 321 more BTCs entered the address in one day. In late October, it was time for another 700 BTC to be added to the whale swing in two days.

In November the buying trend continued and over these two months, the whale has already made 14 purchases in values ​​ranging from 105 BTC (the lowest purchase) to a top of 2,702 BTC (the highest purchase).

Although shopping is the most frequent move, the whale also removes tokens from the address from time to time. The last time an amount of 1,500 BTC left the address was in early November and at that time the coins were worth $100 million.

The amount was soon spread across different addresses in such a way that it is not possible to determine whether the coins were relocated elsewhere or sold on exchanges. After all, today the unrealized profit of the address is around US$ 3.5 billion.

When bitcoin was quoted at the $60,000 level at the end of October, whale profits were even higher and exceeded $4.4 billion.

Buying and selling patterns suggest that rather than belonging to a single investor, the address should be that of some business organization, such as a brokerage or investment manager. The portfolio opened in February 2019 and has been moving almost daily since then.

An hypothesis circulating in the crypto community is that the address belongs to the investment application Robinhood, but the platform has never confirmed this information.



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