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