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Blog

Third-Largest Bitcoin Whale Buys Another $137M Worth of BTC at $50K

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.
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