Third-largest Whale Buys 456 BTC to Celebrate 13th Bitcoin Anniversary
Thirteen years ago, Satoshi Nakamoto mined the genesis block of the Bitcoin blockchain, and the financial system of the world has never been the same since then. To celebrate the occasion, the third-largest Bitcoin whale bought 456 BTC at an average price of $46,363.
Bitcoin Whale Spends $21 Million to Celebrate Genesis Block Anniversary
This means the total transaction was worth around $21 million, according to data from BitInfo. This marks the whale’s first major Bitcoin purchase of this year.
🚨 🚨 456 #BTC (21,161,750 USD) transferred from #Coinbase to unknown wallethttps://t.co/1rWMaIYR0y— Whale Alert (@whale_alert) January 3, 2022
The Bitcoin whale currently holds 120,845.57 BTC, which is equivalent to more than $5.6 billion at the time of writing. The wallet has been active since February 2019 and has received more than 200,000 BTC since then while sending out over 80,000 units of the asset.
The whale has undoubtedly benefited immensely from BTC price change over time, with its profit estimated to be over $3 billion. However, the identity of the wallet holder remains anonymous even as the entity continues to get active.
On December 7, 2021, the same wallet received 2700 coins in a day at a time when the Bitcoin price rose above $50k. With that purchase, the wallet accumulated more than 5,600 BTC within two weeks.
Bitcoin’s Price has Slow Start to 2022
While whales continue to buy BTC, the cryptocurrency‘s price is yet to bounce back as the bearish market persists. In the past 24 hours, the value of the asset has risen by around 0.47%. However, the asset has lost 7.7% of its value in the last 7 days and over 4% in the last 30 days.
On Saturday, the price fell below $47,000, and it’s yet to find its way back to this level. The dip also meant that Bitcoin market dominance compared to other Cryptocurrencies has dropped below 40%.
Apart from the third-largest BTC whale, other whales have also been active in the market. On January 01, an unknown whale moved 9,411 BTC worth $432 million. At the time, it was still trading around $47k.
With major transactions already happening so early in the year, we can expect to see more significant whale moves this year compared to 2021 when whales moved more than $4 billion worth of BTC within 24 hours.
Even as the cryptocurrency’s price action remains in red, many crypto investors are optimistic and bullish on the future price growth, with some predicting this is the year BTC will finally hit $100k.Source