Unknown account acquires $3 billion worth of bitcoins
The operation dates back to last month, but only recently became public knowledge through social networks: an unknown investor acquired more than 130,000 bitcoins between July 18 and 21, while the price of the token evolved to around $23,000. an investment of the equivalent of 3 billion dollars. Enough to put the address, which had no activity until the end of June, directly in third place among the largest accounts (“whales” or ” whales ” in English). The information was discovered by the Watcher News site and recently shared, notably by netizen Romain Bailleul on Twitter.
An unknown investor spent $3 billion buying bitcoins.
He bought around 133,000 BTC at an average price of $23,000
He is now one of the top three owners (Whale ????) of Bitcoin in the world ???? #Bitcoin #BTC pic.twitter.com/WPNmB2Fw4I
— Romain Bailleul COO la-mine.io (@BailleulRomain) August 10, 2022
However, it seems unlikely that the buy operation took place in such a short period of time as it would have impacted the market heavily. As a reminder, we had noted that Tesla had invested $1.5 billion in cryptocurrencies just after the uptrend started in late 2020 and early 2021, indicating a significant impact on the price at this investment level.
The course turns green
Bitcoin’s price went from $1,000 to over $24,000 in about 30 minutes yesterday, but that doesn’t seem to be related. The sudden surge appears more to be due to management giant BlackRock’s announcement that it would launch a fund to follow Bitcoin’s price.
It could also be related to US inflation expectations, which turned out to be lower than expected, we learned shortly thereafter. In July it rose to 8.5% over a year versus 8.7% expected but notably lower than in June (9.1%). If the correlation of the price with the development of consumer prices is confirmed, this would still be a sign of the increasing weight of institutional investors who are trading with Bitcoin like tech stocks.
The digital token is holding above the symbolic bar that crossed yesterday today and is now approaching the $25,000 mark. He gains more than 7.5% over five days and even 24% over a month. Enough to give cryptocurrency’s most ardent defenders hope for the sustained return of a bull market…or to encourage them, given what may also be a ” cop trap (upper trap).