As a seasoned crypto-enthusiast and investor with a knack for spotting trends, I can’t help but feel a sense of admiration for these mysterious whales. Here I am, tracking their every move on Lookonchain and Spotonchain, trying to decipher the patterns behind their massive Bitcoin purchases.
A smart whale tracking system on the X platform has identified a substantial Bitcoin transaction that took place not long ago. The transaction was carried out by an unidentified individual who currently possesses over half a billion dollars’ worth of Bitcoins in their wallet.
Large whales stocking up on Bitcoin
This particular whale invested in approximately 322.37 Bitcoins, which were worth around $19 million. Over the past seven days, this investor has bought a total of 2,322.37 Bitcoins at a cost of $136 million for that substantial amount of cryptocurrency.
Currently, the value of this individual’s Bitcoin holdings stands at approximately 8,881 Bitcoins, which translates to a staggering $523 million USD. Here’s the wallet address associated with this significant Bitcoin holder: 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN, as disclosed by @lookonchain.
Simultaneously, as per SpotOnChain’s crypto tracker, an influential investor in cryptocurrencies bought 1,100 Bitcoins from Binance‘s trading platform. Subsequently, they withdrew these Bitcoins valued at approximately $64.2 million, having made a profit of around $62 million on their initial investment.
As a seasoned Bitcoin investor myself, I can attest that my proficiency in this field is evident. I’ve been strategically purchasing Bitcoin when its value dipped only to sell it at peak prices, demonstrating my knack for trading the world’s leading digital currency.
From November 2023 to January 2024, this massive Bitcoin investor, often referred to as a “whale,” purchased approximately 2,947 Bitcoins, which currently make up a significant portion of their holdings. On average, they bought each coin at around $44,300.
I strategically offloaded a significant portion of my Bitcoin holdings when the price peaked at approximately $60,300 per coin in March and again in August this year. Currently, I’m holding 3,823 BTC, which is equivalent to around $227 million. As calculated by SpotonChain, my estimated profit stands at a substantial $61.8 million, representing a 34% increase in value.
Samson Mow expects Bitcoin to “go up a lot”
Earlier today, Samson Mow, a prominent figure in both the Bitcoin and JAN3 communities, shared a tweet that sparked interest within the crypto community. In this post, Mow discussed the flat-trading Bitcoin chart that has been prevalent in financial markets over the past week – since August 28th.
That particular day, Bitcoin plunged from approximately $64,400 down to around $59,800. However, it’s important for those who thought Bitcoin would remain stable at current levels indefinitely to understand that such a scenario is unlikely based on this instance.
As an analyst, I’ve noticed that historically, it seems Bitcoin experiences significant growth spikes around this time. For instance, while Bitcoin was exchanging hands at approximately $59,000, Mow, the CEO of JAN3, shared on Twitter that he hasn’t sold a single Satoshi from his personal Bitcoin holdings.
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2024-09-03 16:08