As a seasoned crypto investor with a decade of experience under my belt, I find myself intrigued by the recent events unfolding in the cryptosphere. The 3,000 BTC transfer to Coinbase, as reported by Whale Alert, has certainly piqued my interest. While I’ve seen whales swim before, this is a sight to behold!
The well-known blockchain monitor, Whale Alert, has identified a significant transaction aimed at the American cryptocurrency platform, Coinbase, from a large crypto holder, often referred to as a ‘whale’.
Today, the world’s largest cryptocurrency, Bitcoin, experienced a significant surge in its value, which happened simultaneously.
3,000 BTC moved to Coinbase
Just now, around two hours ago, it was noted by Whale Alert that a staggering 3,000 Bitcoins were transferred to Coinbase. At the moment the transaction started, this equivalent of crypto was worth approximately $205,920,028.
Subsequently, the previously mentioned data source identified a transaction of 1,501 BTC ($103,243,667) being transferred anonymously from one digital wallet to another.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 3,000 #BTC (205,920,028 USD) transferred from unknown wallet to #Coinbase
— Whale Alert (@whale_alert) October 28, 2024
Starting from October 25 (last Friday), the leading digital currency, Bitcoin, has seen a rise of approximately 3.68%. This increase moved its value from around $66,500 to $68,865, which is its current trading price at this moment. Over the past day, Bitcoin has almost doubled that percentage with a growth of close to 2%.
Previously, on Friday, Bitcoin experienced a sudden 2.57% drop following negative events in the Middle East and reports of Tether, a significant player in the market, being investigated by U.S. authorities. However, the CEO of Tether, Paolo Ardoino, has since dismissed these allegations as false news, according to an article published by the Wall Street Journal.
MicroStrategy outperforms Bitcoin annually
In a recent tweet, the outspoken Bitcoin advocate and CEO of MicroStrategy, Michael Saylor, presented information indicating that the growth of the MicroStrategy stock (MSTR) has exceeded Bitcoin’s performance over the last four years.
As a researcher looking back, I find myself reflecting on my company’s decision in August 2020 to invest its free cash reserves into Bitcoin. This marked the inception of our Bitcoin investment strategy. Upon examining the infographic shared by Saylor, it appears that this move has proven quite fruitful. Since then, Bitcoin has experienced an impressive annual growth rate of approximately 51%, outperforming a diverse range of assets. Notably, it surpassed the ‘Magnificent 7’ (+28%), S&P 500 (+14%), real estate (+10%), gold (+7%) and even bonds (-5%).
As a researcher, I’ve noticed an intriguing contrast between Bitcoin and MicroStrategy (MSTR). Over the past year, MSTR has demonstrated a remarkable 101% annualized growth rate. This growth is largely due to MicroStrategy’s consistent Bitcoin purchases throughout the year, a strategy that has continued even into 2023.
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2024-10-28 17:30