U.Today – Smart whale tracking account @lookonchain has spotted a large purchase made recently. It was made by an anonymous wallet owner who already holds a stash of over $500 million worth of BTC.
Big whales stock up on Bitcoin
This whale bought 322.37 BTC worth approximately $19 million. Over the past week, this investor has accumulated 2,322.37 BTC, having paid $136 million for the cryptocurrency.
At the moment, their total Bitcoin holdings stand at 8,881 BTC, which is equivalent to $523,000,000. @lookonchain shared this whale's wallet address: 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN.
Meanwhile, according to cryptocurrency tracker @spotonchain, a crypto whale purchased 1,100 BTC on the Binance trading platform. He withdrew this BTC worth $64.2 million and made a profit of $62 million on the investment.
@spotonchain noted that this is an expert Bitcoin trader as he has been buying BTC when it dropped to lows and then selling it once the world's leading digital currency rose to reach high prices.
Between November 2023 and January 2024, the period leading up to the Bitcoin boom, this whale accumulated 2,947 BTC (the bulk of its current holdings) at a price of $44,300 per coin on average.
They then made strategic sales, dumping a total of 315 BTC as Bitcoin hit local highs of roughly $60,300 each in March and then in August of this year. As of now, this skilled BTC trader holds 3,823 BTC worth $227 million. His estimated profit, according to SpotonChain, amounts to $61.8 million (i.e. a 34% increase).
Samson Mow expects Bitcoin to “go way up”
Earlier today, Samson Mow, the Bitcoin leader and chairman of JAN3, posted a tweet that caught the attention of the cryptocurrency community. Mow talked about the Bitcoin curve that has remained stable and has dominated the market for the past week, since August 28th.
That day, Bitcoin plummeted from the $64,400 area to the $59,800 zone. Mow warned those who expected BTC to “trade sideways forever” that that was not the case.
The JAN3 CEO noted that, based on his observations, this is exactly the moment when Bitcoin starts to “rise a lot.” While BTC was trading in the $59,000 range, Mow tweeted that he did not sell a single Satoshi of his Bitcoin stash.
This article was originally published on U.Today
