Bitcoin (BTC) returning to $50,000 overnight inspired one of the largest wallets to buy the equivalent of $137 million more.
Blockchain data from on-chain monitoring resource BitInfoCharts highlights how one entity “bought the dip” like no other.
Someone “buys the dip” to the tune of $137 million
After buying frequently since BTC/USD hit $69,000 all-time highs last month, the wallet holder upped the ante overnight with a single purchase of 2,700 BTC — taking their total to 118,017 BTC.
The buy dwarfs previous recent transactions, and as popular Twitter account Venturefounder noted, takes the holder’s balance to “whopping” record levels.
“This is officially the highest number of Bitcoin EVER held in this wallet: 118,017 BTC, in total the whale has put $2.5B USD to buy BTC with an average cost basis of $21,160 per BTC,” the account tweeted.