Richest Bitcoin Whale Now On Massive Accumulation Spree
According to the crypto platform, BitInfoCharts, the richest Bitcoin BTC/USD wallet, bought 4,816 BTC over the past month, spending over $102 million.
Earlier in June, the wallet held 127,873 BTC. During the entire month, the wallet carried many Bitcoin procurements in different amounts and only one withdrawal to bring the total to 132,189 worth $2.53 billion.
On Saturday, the whale bought 186 BTC worth $3.58 million. Over the last few days, the whale also bought 601 BTC and 815 BTC, worth $11.31 million and $16.94 million, respectively.
However, the whale only sold once during June, a batch of 500 BTC.
The increase in the number of whales holding more than 10,000 Bitcoin started in February.
Also Read: This Bitcoin Whale Moves $30M Worth Of BTC After Being Dormant For Over 8 Years
Earlier in July, Bitcoin whales moved billions of dollars worth of BTC shortly before it broke below the $20,000 mark.
At present, whales own as much as 8.69 million BTC, or 45.6% of Bitcoin’s total supply of 21 million.
Whales (>1k $BTC) typically go through accumulation / distribution cycles, often aligned with #Bitcoin market structure.
These entities are also adding to their balance aggressively, acquiring 140k $BTC/month directly from exchanges
Whales now own 8.69M $BTC (45.6% Supply)
— glassnode (@glassnode) June 29, 2022
At the time of writing, Bitcoin was trading at $19,337, down over 9% in the last seven days.