- An anonymous whale has accumulated 8,881 BTC, valued at over $523 million, despite recent market dips.
- A strategic whale profited $62 million on Binance by buying low and selling during Bitcoin’s local highs.
- Whales continue to stockpile Bitcoin, signaling confidence in its long-term value despite current market volatility.
Smart whale tracking account @lookonchain recently detected a significant Bitcoin purchase by an anonymous wallet holder with a massive stash. The whale, who already possesses more than $500 million worth of Bitcoin, added another 322.37 BTC to their holdings. This latest acquisition, valued at approximately $19 million, brings their total Bitcoin holdings to 8,881 BTC, worth a staggering $523 million. Over the past week, this investor has accumulated 2,322.37 BTC, paying $136 million for the substantial chunk of cryptocurrency.
Strategic Whale Profits on Binance
Another cryptocurrency whale has demonstrated skillful trading on the Binance platform. According to @spotonchain, this trader purchased 1,100 BTC, valued at $64.2 million. This purchase netted the whale a profit of $62 million, underscoring their strategic approach to buying low and selling high. Between November 2023 and January 2024, this whale accumulated 2,947 BTC during the prepump period for Bitcoin, paying an average of $44,300 per coin. They then strategically sold 315 BTC when Bitcoin reached local highs of approximately $60,300 in March and August.
Whales Signal Confidence in Bitcoin’s Long-Term Potential
As of now, this strategic whale holds 3,823 BTC, with an estimated value of $227 million. Their calculated moves have resulted in a 34% profit increase, amounting to $61.8 million. The ongoing accumulation of Bitcoin by these whales, despite recent price fluctuations, signals strong confidence in Bitcoin’s long-term potential. These large-scale purchases and strategic sales highlight the continued interest and investment in Bitcoin by major market players.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
