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Recent on-chain data shared by the @lookonchain analytics platform on the X/Twitter app describes a smart whale who bought over a billion USD worth of <a href="https://u.today/bitcoin-on-track-for-record-22000-monthly-candle">Bitcoin</a> two years ago and is now sitting on a hefty unrealized profit.
Meanwhile, the price of the world’s flagship cryptocurrency, BTC, has demonstrated a slight decline of 1.73%, dropping below the quickly taken $62,000 level in the past 24 hours.
<h2 id="whale-sits-on-900-profit-from-holding-bitcoin">Whale sits on $900 profit from holding Bitcoin</h2>
A tweet published by the aforementioned source earlier today says that a smart whale purchased a massive $1.39 billion worth of Bitcoin in July 2022, paying $21,629 per BTC on average.
Now that, since the start of 2024, the Bitcoin price has surged by roughly 50% and surpassed the $62,000 level briefly earlier this week, this whale has an unrealized profit of more than $900 million from the Bitcoin he holds.
<blockquote>
 A smart whale has accumulated 22,670 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($1.39B) at an average price of $21,629 since <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> entered the bear market in July 2022.He currently has an unrealized profit of more than $900M!<a href="https://t.co/gT1kfWq5YF">https://t.co/gT1kfWq5YF</a> <a href="https://t.co/BTcijZB0IA">pic.twitter.com/BTcijZB0IA</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1763452443365675020?ref_src=twsrc%5Etfw">March 1, 2024</a>
</blockquote> 
Overall, whales continue to accumulate Bitcoin, while the price has dipped a little, going below $62,000. The same source as above has reported that over the past hour, a fresh Bitcoin wallet acquired 2,475 BTC from the Binance exchange. This amount of BTC worth $153.66 million has turned this wallet into a whale.
According to Whale Alert cryptocurrency tracking platform, a massive 6,034 Bitcoin evaluated at $374,502,788 were transferred between anonymous whales approximately 12 hours ago. Several large Bitcoin chunks were also the largest U.S.-based cryptocurrency exchange Coinbase and its institutional platform.
<h2 id="bitcoin-etfs-acquire-close-to-billion-in-btc">Bitcoin ETFs acquire close to billion in BTC</h2>
@lookonchain also published an update on Thursday about Bitcoin acquisitions made by the spot Bitcoin ETFs. On Feb. 29, eight of the eleven approved funds laid their hands on a whopping 14,934 BTC worth $940 million.
<blockquote>
 Feb 29 Update:8 ETFs added 14,934 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($940M) today while <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> only decreased 2,223 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($139.8M).<a href="https://twitter.com/hashtag/Blackrock?src=hash&amp;ref_src=twsrc%5Etfw">#Blackrock</a> added 10,140 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($638M);<a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw">#Fidelity</a> added 4,066 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($255.9M).<a href="https://t.co/UIY26R4Eiq">https://t.co/UIY26R4Eiq</a> <a href="https://t.co/svR5aZbSsS">pic.twitter.com/svR5aZbSsS</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1763224838385344629?ref_src=twsrc%5Etfw">February 29, 2024</a>
</blockquote> 
<a href="https://u.today/blackrocks-bitcoin-etf-to-leave-gold-in-dust-with-10-billion-milestone">BlackRock</a> and Fidelity are again the leading purchasers here – the former bought the largest lump of 10,140 BTC (worth $638 million), and the latter grabbed 4,066 BTC (worth $255.9 million). Basically, nearly the whole amount that went into spot-based Bitcoin ETFs yesterday was received by just two of these exchange-traded funds. Grayscale continues to sell its Bitcoin, and yesterday, it got rid of 2,223 BTC – the equivalent of $139.8 million. VanEck purchased 170 BTC. Bitwise ETF acquired 164 BTC.

Bitcoin Whale Sits on $900 Million Profit After Grabbing Big BTC Chunk in 2022

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