New Whale Becomes Top Bitcoin Holder With $3 Billion Acquisition, BTC Surges To New High

An unknown whale has just become one of the biggest holders of Bitcoin.

bitcoin BTC wallet crypto coin

An unknown whale has just become one of the biggest holders of Bitcoin after on-chain data trackers reported the transfers of 130,000 Bitcoin to a new wallet worth approximately $3 billion.

A New Bitcoin Whale Is Born

On August 10, on-chain data trackers reported that an unknown investor had purchased approximately 133,000 (BTC) in several transactions at an average price of $23,000, amounting to $3 billion in total. 

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Further inspection of the transactions revealed that it was an old Bitcoin whale moving its funds to a  new wallet. However, the wallet now counts as one of the top three largest individual Bitcoin holders.

Bitcoin BTC

Largest Bitcoin Holders

MicroStrategy, most famous for its Bitcoin purchases, is the largest corporate holder of the crypto, with over 129,699 BTC in its purse. Satoshi Nakamoto is the biggest individual Bitcoin holder, reportedly holding over 1.1 million Bitcoins.

Global asset manager Grayscale sits just below Satoshi with approximately 683,480 BTCs. Binance is the top cryptocurrency exchange holding Bitcoin, with about 447,197 Bitcoins. 

The accumulation/transfer of Bitcoin by the whale precedes a market rally which has seen Bitcoin’s price spike by 7%. The price of Bitcoin has risen from as low as $23,031 on August 10 to as high as $24,670 on August 11.

BTC coinmarketcap graph bitcoin

On the Flipside

  • A $475 million Bitcoin options expiry on August 12 could flip the trend for Bitcoin. If Bitcoin closes above $24k on expiry, the bulls could take full control of the market.

Why You Should Care

The accumulation of Bitcoin by whales is usually interpreted as a precursor to a major crypto market rally or the end of a bullish cycle.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia