By The Daily Hodl - 1 year ago - Reading Time: 2 minutes
$3,910,000,000 Bitcoin Whale Enters Massive BTC Accumulation Mode Amid Crypto Bounce
The world’s richest non-exchange Bitcoin (BTC) whale is adding more of the flagship crypto asset as the market rebounds.
The wallet has added 806 BTC over the past seven days as the price of Bitcoin now hovers above $31,000.
The wallet holds the largest number of Bitcoin after Binance and Bitfinex crypto exchanges.
Per data from crypto-tracking platform BitInfoCharts, the whale made the following purchases:
86 BTC worth $2.47 million on May 27th 481 BTC worth $14.15 million on May 26th 77 BTC worth $2.28 million on May 25th 162 BTC worth $4.72 million on May 24thIn total, the massive whale spent over $23.6 million in accumulating 806 BTC. At time of writing, the whale’s BTC stack is worth more than $25.4 million.
Prior to last week’s aggregate purchase of 806 BTC, the whale had gained a net of 3,315 Bitcoin ($104 million) over the first three weeks of May. The richest non-exchange Bitcoin wallet gained a net of 3,821 BTC ($120 million) throughout May.
Last week, crypto insights firm Santiment revealed that the number of addresses holding between 100 to 1,000 BTC was on the rise.
“As Bitcoin continues treading water at $29,600, the amount of key whale addresses (holding 100 to 1,000 BTC) continues rising after the massive dumping from late January. We’ve historically seen a correlation between price & this tier’s address quantity.”
Source: SantimentFeed/TwitterAccording to Santiment, the number of Bitcoin whale addresses had recovered from a low registered in January this year.
Bitcoin is trading for $31,623 at time of writing, a rise of over 17% from a two-week low reached last week.
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Featured Image: Shutterstock/delcarmat
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Original source: The Daily Hodl