New Whale Becomes Top Bitcoin Holder With $3 Billion Acquisition, BTC Surges To New High
DailyCoin
Published Aug 11, 2022 07:40AM ET
Updated Aug 11, 2022 08:31AM ET
New Whale Becomes Top Bitcoin Holder With $3 Billion Acquisition, BTC Surges To New High
An unknown whale has just become one of the biggest holders of Bitcoin after on-chain data trackers reported the transfers of 130,000 Bitcoin to a new wallet worth approximately $3 billion.
A New Bitcoin Whale Is Born
On August 10, on-chain data trackers reported that an unknown investor had purchased approximately 133,000 (BTC) in several transactions at an average price of $23,000, amounting to $3 billion in total.
Further inspection of the transactions revealed that it was an old Bitcoin whale moving its funds to a new wallet. However, the wallet now counts as one of the top three largest individual Bitcoin holders.
Largest Bitcoin Holders
MicroStrategy, most famous for its Bitcoin purchases, is the largest corporate holder of the crypto, with over 129,699 BTC in its purse. Satoshi Nakamoto is the biggest individual Bitcoin holder, reportedly holding over 1.1 million Bitcoins.
Global asset manager Grayscale sits just below Satoshi with approximately 683,480 BTCs. Binance is the top cryptocurrency exchange holding Bitcoin, with about 447,197 Bitcoins.
Bitcoin (BTC) Spikes to New High
The accumulation/transfer of Bitcoin by the whale precedes a market rally which has seen Bitcoin’s price spike by 7%. The price of Bitcoin has risen from as low as $23,031 on August 10 to as high as $24,670 on August 11.
On the Flipside
- A $475 million Bitcoin options expiry on August 12 could flip the trend for Bitcoin. If Bitcoin closes above $24k on expiry, the bulls could take full control of the market.
Why You Should Care
The accumulation of Bitcoin by whales is usually interpreted as a precursor to a major crypto market rally or the end of a bullish cycle.
Read about Bitcoin forecasts in:
Scaramucci Believes Bitcoin’s (BTC) Real Value Is $40,000: Here’s Why
Read about Wright’s claims of being Satoshi below:
Craig Wright Claims People Can Prove His Identity As Bitcoin’s Creator–Satoshi Nakamoto
Continue reading on DailyCoin
Get The News You Want
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.