Bitcoin Whales Continue to Add BTC to Their Positions
Large Bitcoin holders, also known as Bitcoin whales, continue to add Bitcoin to their positions. Basically, they have been purchasing BTC for the last few weeks, even more when the price moves down. One of the largest Bitcoin holders – exactly the third-largest Bitcoin whale – has added close to $29 million in BTC to its position.
Bitcoin Large Holders Continue to Buy BTC
Bitcoin holders and large investors continue to add Bitcoin to their positions. According to BitInfoCharts, the third-largest Bitcoin holder is now the owner of almost $5 billion worth of Bitcoin. This wallet now has 126.342 BTC, which is over 0.60% of the total Bitcoin supply (21 million BTC).
The latest purchases of this Bitcoin investor came when Bitcoin fell below $39,000 in recent days. The market is experiencing large volatility due to the conflict in Ukraine (Russian invasion), inflation data from different countries, and due to the volatility experienced by traditional financial markets.
At the moment, there is no information about who the owner of this wallet is. However, the wallet has been adding Bitcoin for the last months and it continues to do so every single time that there is a market dip. It seems that large holders continue to follow the market and to analyze whether to add Bitcoin to their holdings on a regular basis.
The largest wallet is now holding close to $10 billion in BTC (252,597 BTC) and it belongs to Binance. Meanwhile, Bitfinex cold wallet holds 168,010 BTC (currently valued at $6.51 billion).
Bitcoin Continues to Stabilize Between $38,000 and $44,000
Over the last few weeks, we have seen how Bitcoin has stabilized its price between $38,000 and $44,000 with some moments above and below these levels (for short periods of time). The largest cryptocurrency in the market continues to attract the attention of investors from all around the world, especially those in need.
During the Russian invasion of Ukraine, Bitcoin proved to be a great way for people to be able to move their savings around without having to be worried about losing them or being stolen. By simply memorizing a seed phrase, Ukrainian displaced could simply retrieve their funds anywhere around the world in just minutes.
Despite one of the largest military operations since the end of WWII, Bitcoin proved to be a store of value and a great option for individuals that want to protect their savings.