Home Bitcoin News Did one of the largest bitcoin investors make a mistake?

Did one of the largest bitcoin investors make a mistake?

by admin

Crypto News


The third largest bitcoin investor in the cryptocurrency market has made a number of unusual transactions.

CryptoQuant analyst drew attention to unusual transactions, which was carried out by the third investor in terms of bitcoin holdings. On October 14, this investor purchased 494 BTC at a price of 57.3 thousand dollars after he sold 1.5 thousand on October 13. BTC at a price of 56.2 thousand dollars per unit. Thus, a large volume of bitcoins was bought at a higher price than they were sold a few hours before.

The 3rd largest #Bitcoin whale wallet bought back 494 #BTC today at $57.3k after selling 1,500 BTC at $56.2k yesterday

One of the few times he bought BTC back higher after selling. Last time was August, after selling bunch at $40k, he bought lots back at $46k

Thanks @eche___ pic.twitter.com/L3QlHeSYFJ

— venturefoundΞr (@venturefounder) October 14, 2021

The last time the same investor performed similar operations in August, when he sold a batch of bitcoins for $ 40 thousand for one BTC, and then bought a significant amount already at a price of $ 46 thousand for one BTC.

This bitcoin holder currently has 105,758 thousand BTC, which are worth more than $6 billion in total. Moreover, with the sale of all his digital assets, he could receive an income of $ 4.3 billion, given how much he previously purchased various batches of bitcoins. In the transactions that took place on October 14-13, the CryptoQuant analyst sees a sign that “the trend for long-term accumulation of bitcoins continues.”

Indeed, these transactions may also indicate that both in August and now, in mid-October, a large investor began to buy bitcoins again, which indicates his expectations of further growth in the price of these assets.

It is worth noting that investments in bitcoins are also made by large corporations. So, in particular, Tesla, which invested $1.5 billion in bitcoins, if I sold them all, by now the moment It could have received one billion dollars in profit, which is comparable, for example, with the corporation’s net profit in the second quarter from the sale of its cars ($ 1.14 billion). By the way, for Tesla, quarterly net profit exceeded one billion dollars for the first time in its corporate history.

Interest in bitcoin futures based on the number of net purchases of such futures contracts on the CME Group exchange is currently expressed in the figure of $ 3.22 billion — this is more than was invested in such contracts in mid-April of this year, when bitcoin exceeded $ 63 thousand and reached a historical maximum.






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