Bitcoin Whale Earning More Than $1 Billion Bought at This Level

A smart cryptocurrency whale turned the recent decline in the market into an opportunity.

According to a post by Blockchain analysis platform Lookonchain, a Bitcoin whale bought after the price started to decline. According to CoinGecko data, Bitcoin dropped below $65,000 during the week.

Hundreds of millions of dollars of purchases

According to the information provided by Lookonchain, the whale purchased a total of 6 thousand 70 Bitcoins. At the time of the transaction, they were valued at approximately $395 million. Whale made purchases for the first time after about a year and a half.

“This whale is very smart and most of the time he sells when the price peaks,” Lookonchain said.

Billion dollar earnings

According to historical transaction records, the same whale purchased approximately 41 thousand Bitcoins during the bear market in 2022. While their value at that time was approximately 794 million dollars, the unit price of Bitcoin was approximately 19 thousand dollars.

Bitcoin price started to rise again after the bear market in 2022 was overcome. According to Lookonchain data, the whale sold approximately 37 thousand Bitcoins when the Bitcoin price increased to an average of 46 thousand 800 dollars.

It is estimated that the whale, who disposed of these for a total of $1.74 billion, earned more than $1 billion.