A major cryptocurrency investor has made another significant purchase of Bitcoin. This whale bought 322.37 BTC from Binance, worth about $19 million, just a few hours ago, according to Lookonchain. Earlier, this whale bought 1,000 $BTC worth around 59.65 million, also from Binance.
This whale bought 322.37 $BTC($19M) again 1 hour ago.He bought 2,322.37 $BTC($136M) in 5 days and currently holds 8,881 $BTC($523M).Address:3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN pic.twitter.com/JcdZGaqYJy
— Lookonchain (@lookonchain) September 3, 2024
Whale Buys 2,322 BTC in Five Days, Now Holds 8,881 BTC
In the last five days, this whale has been very much involved in trading Bitcoin. Together, he has bought 2,322.37 BTC, which equals to approximately $136 million. This massive acquisition has taken his Bitcoin holdings to 8,881 BTC and that is worth about $523 million today.
These scaled-up transactions can be significant to the market since they involve the buy-sell by a single investor. The buying activity of this whale in particular extends confidence in the future price of this asset. It also provided the information that he is positive on the near term for the cryptocurrency market.
Whale Accumulating Bitcoin Signals Strong Market Confidence
The whale’s current level of investment in Bitcoin can be described as a significant buy and hold more of the asset whenever there is a lower price or expectations of growth. Such a large purchase may create positive sentiment in the overall market and shape the expectations of the other people about the high outlook for Bitcoin.
Lastly, following the findings of Lookonchain, this whale has been accumulating significant amounts of Bitcoins, which can be considered as an optimistic sign. By buying and holding a large amount of BTC during this period, he is demonstrating the confidence that Bitcoin will continue to grow.
