The third largest bitcoin holder among all wallets acquired more than $150 million worth of cryptocurrency during the recent market collapse.
According to BitInfoCharts, the wallet balance increased by more than 3,000 BTC in a couple of days and reached a record amount of 118,405 BTC worth almost $6 billion at the current exchange rate. The wallet's profit in recent years as a result of the growth in the value of bitcoin is over $ 3 billion.
Bitcoin has plummeted from $57,000 to less than $46,000 in 24 hours last week. Since then, the cryptocurrency exchange rate has partially recovered to $50,000.
The specified address began to show activity in February 2019 at a bitcoin price of about $3,000. Initially receiving 10,000 BTC, the wallet collected more than 100,000 bitcoins in the subsequent time. The average purchase price in his case is $21,160.
Although there is always a possibility that such a large wallet may belong to the exchange, this version has opponents.
"Transaction volume and behavior do not support this version. Very unlike other cold wallets. He often buys on the pullback and sells on the rise, demonstrating a tendency to long-term retention," writes VentureFounder analyst.
Markus Sotiriou, a trader at the British brokerage company GlobalBlock, believes that the latest observations support the forecast of the continuation of the bullish trend.
"The digital asset markets experienced huge sales volumes from whales, who transferred bitcoins to exchanges at a staggering pace—" he said in a conversation with The Independent. – I don't think this is the end of the bull cycle. The latest depreciation is consistent with the theory of its continuation. Thus, the bull market may move into 2022, contrary to the forecasts of many analysts about reaching a maximum in 2021."