Someone just bought $400 million worth of Bitcoin - by @voiceofreason
Someone with very deep pockets believes the bottom has been put in on Bitcoin.
Looking at data from the blockchain we can see that someone has purchased over $400 million worth of bitcoin in the last few weeks.
Large purchases of bitcoin have been going to this address over the past few weeks:
(Source: https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16)
After accumulating close to 55,000 bitcoins the anonymous investor added another 41,000 bitcoins between February 9th and February 12th.
Bringing his total to roughly 96,000 bitcoins.
Who is this anonymous investor?
It isn't clear exactly who made the buy, but I don't think it was any coincidence that bitcoin just so happened to have it's massive drop on the same day that the first bitcoin futures contracts expired.
Which was also the first time Wall Street really started to dip their toes into the asset class.
If I had to guess, I would say that Wall Street money helped push bitcoin all the way to that $20k number and then I would bet they shorted it heavily via puts/futures and rode it back down to $6k.
From there, they are likely getting back in on the long side for the next major push higher.
Not all that surprising to some.
Many were thinking that Wall Street might do exactly that when they first started getting in late last year.
The rumors were that they would help drive prices up, take up short positions via options and futures, and then dump their holdings to make even more money on the way down via those derivatives.
Then when prices got low enough and started to show some support, they start getting back in on the long side.
Who knows whether that is actually what happened but it certainly makes sense.
MarketWatch
Another possibility is that the buying could be for another fund/trust that is set to launch.
We'll just have to wait until we find out more information to know for sure who was doing that buying.
Either way though, those coins that were bought over the last week that were worth about $400 million at the time, are now worth close to a billion with bitcoin up over $10,000 per coin.
Looks like we have a new member of the Bitcoin Billionaire Club!
ini menarik apakah skenario itu akan melahirkan sisi positif dan membuat revolusi bagi cryptocurrecy?
the price will keep rising after this news because the dip is over
Me! lol jk
I would be willing to bet that there are a few hedge funds taking bets on Bitcoin and doing so anonymously. They pay PR firs to keep their names and investments OUT of the news.
thats huge bro ! it must be a plan to push it up again :P btw this is the first crypto blog whiich is so easy to understand for dummies like me
Thank you for sharing!
The crypto-currency trading markets are really small / thin and it does not take much to swing it in the direction that you want it to go. It can easily and I believe is and has been manipulated.
But, follow my 7 simple rules and you can be on the winning side -
I have only 7 simple rules, but, they have been time-tested in many investment areas:
https://steemit.com/trading-rules/@freedomshift/7-rules-for-trading-investing-hodl-virtual-assets-aka-crypto-currencies
Please let me know if I can help.
All the best!
Only one thing is certain whoever bought this much BTC is investing to make mega profits as the price seems to be going up again after the fall to $6000 and this person sure has dip pockets. As to the anonymous nature, it is what the ideology of cryptocurrencies is about, so you don't know who owns what. Wish I had even just one BTC to my name.
It is never late to accumulate bitcoin in bits until the value skyrockets
Apparently less than 10% of the world's populace currently own bitcoin.
You aren't late in acquiring up to 1btc from the bits
buy all the bitcoin ....Buy buy buy... p.s. One bitcoin at a time. lol
I think it's safe to say we're back in bull market territory!
Maybe an upcoming trend in crypto world that we all could wittness. People with deep pockets towards Bitcoin Billionaire .