Whale Acquires 2,700 BTC Worth $137 Million

The third biggest Bitcoin (BTC) whale has rushed to acquire Bitcoin (BTC) as the rebound from the crash has begun.

As Bitcoin (BTC) rose past $50,000, the third biggest Bitcoin (BTC) whale amassed more than 2,700 coins in 24 hours. In the last two weeks, the unknown user has purchased more than 5,600 Bitcoin (BTC).

This whale has a specific pattern when it comes to Bitcoin (BTC), as it is observed to sell the cryptocurrency when the price skyrockets, and restock once Bitcoin (BTC) takes a breather every now and then. Lately, though, the price movements of Bitcoin (BTC) indicated more than a breather when on Saturday it was trading at a low of $42k.

Nonetheless, the crash of Saturday did not prompt the whale to make any more acquisitions in this wallet, but price recovery sure was a motivator seeing as the unknown user bought Bitcoin (BTC) for almost $140 million at a price of $50,621.

VentureFounder, an analyst for CryptoQuant said that the Bitcoin (BTC) accumulation of the whale since the 22nd of November has now marked 5,624 Bitcoin (BTC), which at present trading prices amounts to roughly $290 million. He also confirmed that “officially the highest number of bitcoin ever held in this wallet: 118,017” with the Bitcoin (BTC) expenditures amounting to $2.5 billion to date. 

When Bitcoin (BTC) retracted to a $30,000 low last July, a record of Bitcoin (BTC) acquisitions was observed.

Also read: 

Alex Mashinsky Predicts Bitcoin to Hit $140K Before Q2 2022

BTC Whale Bought the Dip at 62k Adding $13 Million to its BTC Holdings

2010 Whale Transfers 1,000 Ten-Year-Old Bitcoins Worth $35 Million

Whale From 2010 Transfers 50 Bitcoins Worth $3 Million After HODLing for 11 Years