Tech

Mysterious crypto mogul with $6 billion wallet buys $137 million worth of Bitcoin in ONE day

An ANY investor just added over $150 million worth of crypto to their holdings.

The purchase was made by the third largest Bitcoin holder in the world, whose total holdings are currently valued at around $6 billion.

An anonymous investor bought over $150 million worth of Bitcoins

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An anonymous investor bought over $150 million worth of BitcoinsCredit: Getty

According to BitInfoCharts, a blockchain monitoring service, mysterious buyers appear to have been “buying down” as the price of Bitcoin (BTC) dropped more than 20% over the weekend.

The purchase, broken down into different transactions that took place over several days, amounted to over 3,000 Bitcoins.

Massive crypto assets are now held in a wallet that has been active since February 2019, when one Bitcoin was worth around $3,000.

The wallet made an initial purchase of 10,000 Bitcoin and has since accumulated over 100,000 BTC, with an average price of $21,160 per coin.

Although it is difficult to specifically identify the owner of the wallet, some crypto market observers have speculated it to be an individual or a large institution.

Some analysts have even considered the possibility of the wallet being linked to a major crypto exchange, however, one audience member disagreed.

“Volume and transaction patterns do not seem to support this, which is very inconsistent with other cold wallets,” said the analyst, nicknamed VentureFounder. wrote on Twitter.

“First, many of the buying and selling strategies are recovering and clearly a long-term accumulation trend.”

Bitcoin was valued at $57,300 before it dropped to $45,000 in less than 24 hours last Friday.

It gradually increased to $49,100 over the next few days and as of Wednesday is valued at around $50,500.

Other cryptocurrencies including Ethereum, Cardano, and Dogecoin also plummeted, costing the market over $300 billion, with a total global loss of around $2.2 billion.

One reason that could be attributed to the market hit last week was the Chairman of the Federal Reserve, Jerome Powell, informed the Senate Banking Committee that the central bank may begin to limit its economic support.

Powell cites worries about inflation as an important reason for the Fed to stop pouring money into markets, especially government-backed securities.

Economic analysts also blamed investors’ fear of the new Omicron variant for the latest episode of the crypto market.

Massive crypto wallet that is said to belong to a large individual or organization

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Massive crypto wallet that is said to belong to a large individual or organizationCredit: Getty
The World’s First ‘CryptoHAMSTER’ Trades Bitcoin on Twitch

In other news, Google has taken action against a major hacking operation that it says has infected more than a million devices.

iPhone owners are being urged to change their settings to protect their texts from trackers.

And Apple has announced that it will let customers repair their own iPhones for the first time starting next year.

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https://www.thesun.co.uk/tech/16983277/mystery-crypto-tycoon-wallet-bitcoin/ Mysterious crypto mogul with $6 billion wallet buys $137 million worth of Bitcoin in ONE day

Caroline Bleakley

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