Bitcoin

In a significant move, a prominent investor, often called “smart money,” acquired 244 BTC worth $16 million just two hours ago. This <a href="https://x.com/lookonchain/status/1816298436318376307" rel="noopener noreferrer nofollow">purchase </a>highlights continued confidence in Bitcoin’s potential amidst market fluctuations.The investor has been actively accumulating Bitcoin since July 17. Over this period, they have purchased a total of 921 <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">BTC</a>, valued at $60.6 million, at an average price of $65,821. This sustained buying spree underscores a strategic approach to amassing a substantial Bitcoin position.<h2 id="header-0">Previous Buys This Week</h2>Just nine hours before the latest purchase, the same investor bought 213.78 BTC for $14.48 million. This brings the total BTC acquired over the past four days to 677 BTC, costing $45.6 million. The consistent purchases suggest a strong belief in Bitcoin’s long-term value.The trend of significant acquisitions began on July 18, when the investor bought 215.5 BTC for $14 million within just 16 minutes of a previous transaction. At that time, the investor’s holdings were reported to be 463.16 BTC, valued at $30 million.The ongoing large-scale purchases by this “smart money” investor indicate a robust bullish sentiment towards Bitcoin. These strategic acquisitions influence market perceptions and drive future investment trends in the cryptocurrency space.

Major BTC Purchase by "Smart Money" Investor

Table of Contents

BlockchainReporter

Other articles published on Jul 25, 2024

Dogecoin (DOGE) Historic Pattern Shows Huge Rally, Says Analyst

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Ethereum ETF's Decline: Echoes of Bitcoin's Historic Slump?

Ethereum's Future: Thousands of Layer-2 Blockchains

Solana Price Could Skyrocket to $1700, Says This Crypto Analyst

Litecoin and Dogecoin Lead in Active Wallets Among Top Altcoins

Join our free newsletter for daily crypto updates!