A Bitcoin Whale Bought 3,000 Bitcoins During the Latest Crypto Crash

Whale Via Unsplash by Thomas Lipke
Whale Via Unsplash by Thomas Lipke

A Bitcoin whale (big holder) has bought millions of dollars worth of the largest cryptocurrency. The billionaire “bought the dip” after Bitcoin went on a bearish momentum that sent it down by 30% to below $50,000.

The pseudonymous billionaire is the 3rd largest holder of Bitcoin. According to data from BitInfoCharts — a blockchain monitoring service — the billionaire has bought over 3,000 Bitcoins worth $150 million.

The Bitcoin whale’s portfolio currently stands at around $5.9 billion after the new purchase. According to data, the anonymous holder’s crypto address had activity in February 2019, when Bitcoin was trading around $3,000 and the whale has gained a profit of around $3.4 billion since then.

During Wednesday’s session fell 3% on Thursday and is trading at $48,500 as of Friday. Last Saturday, Bitcoin crashed by around 27% to below $42,000 during the broader crypto and stock market crash. According to analysts, the sell-off followed a mix of concerns from the Omicron variant and fears about the Federal Reserve tightening monetary policy.