Third-Largest Bitcoin Whale Buys Another $137M Worth of BTC at $50K
7 Dec, 2021•2 min read•Bitcoin
The third-largest BTC whale has accumulated more than 2,700 coins in a day as the cryptocurrency spiked above $50,000. The mystery entity has bought over 5,600 BTC in the past two weeks.CryptoPotato frequently reports the behavior of this particular whale who tends to sell when the cryptocurrency’s price has gone on a tear lately and reaccumulates when it cools off.In the past few days, BTC more than cooled off as it plummeted from $58,000 to a low of $42,000 on Saturday.However, the whale remained relatively silent during this crash and didn’t make any purchases, at least in this known wallet.As BTC began its recovery and reclaimed $50,000 earlier today, though, the entity started accumulating. They have bought 2,702 coins at an average price of $50,621, meaning that they had spent nearly $140 million.As CryptoQuant’s analyst, VentureFounder, pointed out, the whale has accumulated 5,624 bitcoins since November 22nd, worth $290 million at today’s prices.Moreover, VentureFounder added that this is “officially the highest number of bitcoin ever held in this wallet: 118,017,” as this whale has spent around $2.5 billion.The previous record was in July this year, when the asset had fallen around and below $30,000.
You already bought 8,117 #BTC in the low $50k since the November correction, BTC dumped <$50k suddenly, what do you do?The 3rd largest #Bitcoin whale wallet: BUY 2,702 more BTC in one day.This #whale wallet added 2,702 $BTC today at $50.6k for a whopping total of $136.7M USD. pic.twitter.com/BlbcgpKbrR— venturefoundΞr (@venturefounder) December 7, 2021