Mysterious Bitcoin Whale Allocated Almost 5,000 BTC

Mysterious Bitcoin Whale Allocated Almost 5,000 BTC

  • September is generally the most painful month for Bitcoin – Experts
  • BTC Price at the time of writing – $19,426.29
  • BTC sentiment is still very far from bullish

The account of a very self-assured large-scale holder was noticed by an experienced Bitcoin (BTC) analyst.

Bitcoin (BTC), like all of the major cryptocurrencies, did not recover from its bearish slump at the beginning of Q4 2022. However, some whales are convinced that the dips can be bought.

$500 million whale keeps buying

An anonymous Bitcoin (BTC) analyst and investor who uses the Twitter handle @Capital15C has shared data from an unusual Bitcoin (BTC) network address.

They have been aggressively purchasing digital gold since September 17, 2022. They typically purchase BTC for 100-200 coins. Their net balance increased to 26,280 BTC from 21,799 BTC.

This portfolio’s USD-denominated balance exceeded $500 million in less than three weeks. Two days ago, the largest cryptocurrency reached a local high of over $521 million, despite its poor performance.

Based on observations spanning multiple years, September typically represents the most difficult month for Bitcoin (BTC). Commenters at @Capital15C are wondering whether this is the storage of a Bitcoin-friendly neobank or the wallet of a very wealthy private holder. Extreme Fear” dominates the boring market.

In the meantime, sentiment regarding Bitcoin (BTC) is still extremely negative.Its “Fear and Greed” index will remain in the Extreme Fear range as of September 15, 2022.

ALSO READ: Users can now submit bulk NFT listings on OpenSea

Who are the biggest corporate Bitcoin holders?

A few years ago, it seemed completely ridiculous that a publicly traded company might have Bitcoin on its balance sheet. It was believed that the primary cryptocurrency was too volatile for any serious business to adopt it. 

The asset was referred to as a “bubble waiting to pop” by numerous prominent investors, including Warren Buffett.

Since 2020, a number of huge corporations have purchased Bitcoin, suggesting that this negative sentiment has subsided. In particular, MicroStrategy, a company that provides business intelligence, set the pace when it purchased $425 million worth of Bitcoin in August and September 2020. 

Numerous others, including Tesla, have followed suit since then. By far, MicroStrategy has the most Bitcoin holdings of any publicly traded company. Through 2021 and 2022, the business analytics platform will aggressively acquire Bitcoin as its primary reserve asset. 

The company had 129,699 Bitcoin in reserve as of August 30, 2022, which is approximately $2.5 billion.

Marathon Digital Holdings holds 10,054 BTC, Coinbase has 9,000, Square Inc. has 8,027), and Hut 8 Mining Corp. has 7,078 BTC.

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