Justin Sun Moves Massive Amounts of Bitcoin
Justin Sun, the flamboyant entrepreneur and crypto mogul, has once again made headlines with a significant Bitcoin transaction. Just two hours ago, he transferred a staggering 500 BTC, worth approximately $30.33 million, to Binance. Simultaneously, he moved another 513.4 BTC, valued at around $31.2 million, to a newly created wallet with the address 14cxTk3rzQBkY9sPyKUULzBhsKVVepHxdH.
This latest move adds to Sun's already impressive Bitcoin holdings. So far in 2024, he has deposited a net total of 2,969 BTC, equivalent to $164 million, into HTX and Binance. His average buying price for these Bitcoin acquisitions stands at $55,185.
Interestingly, Justin Sun has often portrayed himself as a staunch Bitcoin supporter. He unveiled a HTX account holding a massive 28,614 BTC (currently valued at $1.74 billion) in late February. In July, he even made a bold offer to purchase all of Germany's Bitcoin holdings off-market to minimize market impact. However, contradicting these bullish stances, he denied going long on Bitcoin at the $69,000 price level in the same month.
Sun's recent Bitcoin movements and conflicting public statements have ignited speculation and intrigue within the crypto community. As the situation unfolds, it will be fascinating to observe the implications of these actions on the Bitcoin market and Sun's overall strategy.
Justin Sun's Address: 16FSBGvQfy4K8dYvPPWWpmzgKM6CvrCoVy
What do you think is behind Justin Sun's latest Bitcoin maneuvers?
