Bitcoin

<p>A major cryptocurrency investor has made another significant purchase of <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a>. This whale bought 322.37 BTC from Binance, worth about $19 million, just a few hours ago, according to Lookonchain. Earlier, this whale <a href="https://blockchainreporter.net/bitcoin-whale-withdraws-59-6-million-in-btc-from-binance/" rel="noopener noreferrer nofollow">bought</a> 1,000 $BTC worth around 59.65 million, also from Binance.</p><h2 id="header-0">Whale Buys 2,322 BTC in Five Days, Now Holds 8,881 BTC</h2><p>In the last five days, this whale has been very much involved in trading Bitcoin. Together, he has bought 2,322.37 BTC, which equals to approximately $136 million. This massive acquisition has taken his Bitcoin holdings to 8,881 BTC and that is worth about $523 million today.</p><p>These scaled-up transactions can be significant to the market since they involve the buy-sell by a single investor. The buying activity of this whale in particular extends confidence in the future price of this asset. It also provided the information that he is positive on the near term for the cryptocurrency market.</p><h2 id="header-1">Whale Accumulating Bitcoin Signals Strong Market Confidence</h2><p>The whale’s current level of investment in Bitcoin can be described as a significant buy and hold more of the asset whenever there is a lower price or expectations of growth. Such a large purchase may create positive sentiment in the overall market and shape the expectations of the other people about the high outlook for Bitcoin.</p><p>Lastly, following the findings of <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a>, this whale has been accumulating significant amounts of Bitcoins, which can be considered as an optimistic sign. By buying and holding a large amount of BTC during this period, he is demonstrating the confidence that Bitcoin will continue to grow.</p>

Bitcoin Whale Buys Additional 322 BTC for $19M in Recent Transaction

Table of Contents

BlockchainReporter

Other articles published on Sep 3, 2024

Binance Executives' Money Laundering Trial Advanced to September 2 in Nigeria Amid Controversy

Justin Sun’s SunPump to Initiate "100% On-chain Buyback and Burn Process"

Web3 Payment Platform Bridge Raises $58M to Transform Global Payments with Stablecoins

Prosecutors seize 23.5 Bitcoin from thief who used Toblerone chocolate in attack

Scroll Teases Potential Airdrop with ‘Scroll.Soon’ Video on X

Bernstein Analysts Reveal Blockchain Technology Could Help Prevent Censorship Scandals! Here Are ...

Join our free newsletter for daily crypto updates!