Rich Man Invests $34 Million a Day in Bitcoin, Seizing the Moment

Cryptocurrency whale awakens after five months of hibernation and starts buying 300 bitcoins a day on the exchange Bitfinex.

The whale is back and has been buying BTC 300/XNUMX. It seems like he is buying XNUMX coins a day, the head of the technology company Blockstream wrote. Adam Beck.

Given the current Bitcoin rate, the fat cat invests $34 million a day in digital assets. If things continue like this, he will invest more than $1 billion in cryptocurrency in a month.

The wealthy trader started accumulating BTC on August 1, when the coin’s price dropped below $116,000. So it’s clear that he decided to take advantage of the dump to accumulate more coins and make a profit once the bull rally resumes.

In the past, this strategy could have earned the whale a profit of 34% or more, judging by the fact that in late February he was buying 1,000 bitcoins per day at a price of about $90,000 and was able to get rid of the coins at the peak, when they were worth $123,236. Now the situation is repeating itself, because the fat cat is accumulating digital assets after their rate updated the historical maximum and began to correct.

Time of whale’s bitcoin purchases (marked with arrows)

The identity of the trader who is actively investing in BTC could not be established, but a chartist under the nickname M-log1 noted that other wealthy users are following his example. BitfinexTypically, they buy coins during a downtrend and sell them during a bullish trend.

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