The third-largest Bitcoin whale adds to his holdings of the asset by purchasing nearly $18 million worth of it.
Following the purchase of 321 bitcoins two days ago, one of the largest BTC whales has made another large purchase – this time 408 BTC. As a result, their total stash has surpassed 112,000 coins, at least in this one address.
The third-largest bitcoin whale had “purchased the dip” by amassing 321 coins at an average price of $40,500. This price was less than $1,000 higher than the previous day’s low, which was around $39,600.
As bitcoin bounced off in the following hours, it appears that this whale’s appetite has only grown. According to on-chain data, they made another significant purchase hours later.
This time, the enigmatic whale contributed 408 bitcoins. This purchase was worth just under $18 million in US dollars.
As a result, the total holdings of this single address have increased to 112,202.59 bitcoins. Using today’s Bitcoin prices against the US dollar, the stash is worth just under $5 billion.
It is worth noting that this particular whale has been among the most active in terms of buying and selling in response to changes in the price of bitcoin.
When the cryptocurrency reached $60,000 in April, they sold a sizable portion of their entire holdings.
When the asset’s value fell below $30,000, the whale resumed their buying spree. In fact, they have purchased approximately $170 million in BTC since the drop from $53,000 to below $40,000 on its own.
According to CryptoQuant analyst VentureFounder on Twitter, this is the seventh buy since Bitcoin reached $50,000 earlier this month.