Bitcoin whale has purchased over 2700 BTC once again as the price of BTC has started to recover. During the recent spike in bitcoin price, which pushed the cryptocurrency above $50,000, the third-largest BTC whale accumulated more than 2,700 coins. In the last two weeks, the mystery entity has acquired more than 5,600 Bitcoins.
Over the last 48 hours, BTC more than cooled off as it fell from a high of $58,000 to a low of $42,000 on Saturday. The Whale has bought 2,702 coins at an average price of $50,621, which means that they have spent nearly $140 million dollars on the purchase, as BTC began its recovery and reclaimed $50,000 earlier today.
As a result of buying frequently since BTC/USD hit its all-time high of $69,000 last month, the wallet holder increased the stake overnight by purchasing 2702 BTC, which leaves the wallet holder’s total at 118,017 BTC.
CryptoQuant’s analyst VentureFounder noted that the whale has accumulated 5,624 bitcoins since November 22nd, worth more than $290 million at today’s prices. Additionally, VentureFounder stated that this is the highest amount of bitcoin ever held in this wallet: 118,017 bitcoins, as this whale has spent approximately $2.5 billion.
In spite of the evidence that does not prove the wallet to be a private investor, Venturefounder noted that:
The Wallet’s behavior is quite different from a corporate entity such as an exchange cold wallet or fund, referring to the wallet’s many strategic buy the dip and sell the rally behaviors and clearly visible long-term accumulation trend.
