After Michael Saylor and Do Kwon increased their ownership of Bitcoin, it’s time for a true giant among the cryptocurrency whales.
The investor, who so far had about 120,000 Bitcoins, bought more than 3,000 BTC in the last two days.
The richest BTC whale
Wieloryb owns the 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ wallet. Apart from the addresses associated with Binance and Bitfinex exchanges, it is the largest wallet. At the time of writing, he has 122,229 BTC, which at the current exchange rate ($43,486) is around $5,315,332,187.
The whale responds to changes in the Bitcoin rate
However, the fact that new Bitcoins have appeared in the wallet of the largest whale does not mean that the investor is constantly buying cryptocurrencies. This month alone, 4500 BTC was paid from the wallet.
The first transaction took place on April 1, when the whale giant sent 1,500 Bitcoins from his wallet. He sent another 3,000 on April 4 and started racking it up again.
Less than half an hour after his shares dropped 3,000 BTC, 289 Bitcoins returned to the wallet. On April 5 the wallet increased by 2,952 BTC, and today by another 59 BTC.
Why is it worth following the activities of whales?
Due to the fact that the blockchain is transparent, anyone can follow the movements of the whales. Sometimes you can avoid wrong decisions. For example, if a whale suddenly decides to transfer a large amount of Bitcoin to the stock market, it is likely to cause fear among investors. However, it must be remembered that whales also make mistakes and may try to manipulate the market.
Is it April shopping time?
According to an employee of the analysis company Glassnode, there may be increased interest in Bitcoin in the coming weeks, both from small investors and whales. This is confirmed, among others, by the investment in 4167 new BTC in the MacroStrategy account.
What do you think about increasing the amount of BTC owned by the largest whale? Could this mean that there will be significant increases soon?