A famous cryptocurrency wallet purchased $16 million worth of Bitcoin, increasing its total assets to 248 BTC. This address has made a profit of $30 million in the last 12 months, showing that trust in Bitcoin is increasing. BTC's recent price increase is supported by positive political developments and safe haven demand.
The address “3QYQ8YthYTaAFJmzUqiis7iRSWG7e5buBN” purchased 245 BTC for approximately 16 million dollars, increasing its total assets to 248 BTC. This information is taken from Arkham Intelligence and Lookonchain data sources. The wallet's past successful trades have yielded a remarkable profit. Over the past year, he made $30 million in profits by buying Bitcoin at low prices and selling it at peaks. For example, in the five months until December 2023, he made a profit of $9 million by buying 718 BTC at an average of $29,385 and selling it at $41,953. From February to June, it earned a total of 21.2 million dollars. This latest investment shows renewed confidence in Bitcoin. As it is known, the largest cryptocurrency in terms of market value rose from 53 thousand 500 dollars to 64 thousand 500 dollars on July 5. This recovery is attributed to positive political developments in the US and increased safe-haven demand for Bitcoin.
The effects of the assassination attempt against Donald Trump continue to be felt. Hashdex research manager Pedro Lapenta shared the details of the latest market movements. The assassination attempt that took place on July 13 had a two-way effect on the Bitcoin price. The increased likelihood of Trump winning as a crypto-friendly candidate created a positive reaction in the markets. At the same time, this event increased global instability, causing the value of Bitcoin to rise by over 10% and its price to exceed 63 thousand dollars. Political developments and profit-making trends are quite reassuring for those who believe in Bitcoin's potential. The significant investment of the high-profit wallet address reveals that experienced investors are positive about the future of BTC. This confidence may lead other investors to consider Bitcoin as an attractive option, especially in times of uncertainty.
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I EXPLAIN IN DETAIL.
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