After continuing to line up a significant amount of BTC during the red-hot market, the third largest Bitcoin whale is currently holding over 111,000 Bitcoins.
Bitcoin’s latest drop to around $40,000 has enabled the third largest BTC whale to accumulate more assets. In a “Buy the Dip” moment, the organization bought over $13 million worth of cryptocurrency.
BTC Whales Buyback Dip (Again)
Reports have been regularly tracking the behavior of this mysterious whale or at least one of their addresses. Back around April, the institution sold a significant portion of its holdings as Bitcoin spiked to an all-time high above $60,000.
In the subsequent correction, when the asset fell below $40,000 and even $30,000, the whale resumed its appetite by making several consecutive purchases. Interestingly, nearly all of them came when Bitcoin fell several thousand dollars from its peak.
These transactions usually take place on the largest US cryptocurrency exchange Coinbase. The most recent purchase took place a few hours ago when the institution bought and transferred 321 bitcoins at an average price of $40,500, about $1,000 above the intraday low.
As this address shows, the whale made several consecutive transfers to the wallet. The total amount in storage is currently 111,795 BTC – or about $4,750 billion worth of digital assets.
WARNING: This is an information sharing article, not a call to invest, you must be responsible for your own decisions. Investing in financial products always involves a lot of risks, so you need to consider carefully before making a final decision. Wish you wise and alert to make the right investment decisions!