Bitcoin may have fallen over 13% in the past week, but Bitcoin’s third-largest holder didn’t hesitate to buy the dip and added another 551 BTC to its pool, topping the overall pool. from MicroStrategy to Bitcoin. The whale’s latest spree of 551 Bitcoins was bought at an average of $45,219 (roughly Rs. 35 lakh), bringing the total Bitcoin holdings to 124,485 BTC, which is now more than the listed company in Michael Saylor’s stock exchange, MicroStrategy holds, at 124,391 BTC. .
According to a report by CryptoPotato, the whale has been accumulating the most popular cryptocurrency at every opportunity lately, making the most of recent price drops. The whale added 328 Bitcoins, worth nearly $12 million (about Rs. 90 crore) on Jan. 22, followed by another 160 Bitcoins on Jan. 25 worth nearly $6 million (about Rs. 45 crore).
Using smart dip buying instead of lump sum, the whale invested $2.76 billion and bought more BTC than Saylor with $3.75 billion.
— venturefoundΞr (@venturefounder) January 25, 2022
According to MicroStrategy’s latest announcement in December, when the company disclosed that they had bought 1,914 BTC, their average price on the BTC they bought was around $30,159 (roughly Rs. 25 lakh). On the other hand, the third largest whale has a base cost of around $22,000 (around Rs. 15 lakh) per BTC and sits on a profit of around $1.75 billion (around Rs. 13,050 crore).
That said, that’s not quite what the other bitcoin whales are doing. According to on-chain data provided by glass knot analytical service, the number of large Bitcoin addresses on the network hit a three-month low, reaching a value currently comparable to September 2021 levels.
The number of unique addresses that hold 100 or more coins has dropped to October levels, indicating that the majority of the market is no longer willing to counter-trade the asset and join the bear market.