A Bitcoin whale has stacked over $282 million in BTC since late March as the flagship digital asset struggles to find a bottom after hitting all-time highs.
First spotted by blockchain tracking firm Lookonchain, an address beginning with “12QVsfA” bought 4,380 BTC worth $282.38 at an average price of $64,471.
Says Lookonchain,
“After the price of BTC dropped, this whale bought another 620 BTC ($39.8 million) at the bottom.
Since March 21, this whale has bought 4,380 BTC ($282.38 million) at $64,471 from Binance.
Address:
12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo.”
On the same day, the firm also spotted another whale depositing over $77.67 million worth of Bitcoin into crypto exchange Kraken. While it’s unclear what the whale plans to do with their coins, depositing them onto Kraken means they could potentially sell the BTC on the open market.
Citing data from crypto “de-anonymizing” service Arkham, Lookonchain says the entity has accumulated over $1.68 billion worth of Bitcoin in just a month and a half.
“A whale deposited 1,200 BTC ($77.67 million) into Kraken 43 minutes ago.
The whale accumulated 24,755 BTC ($1.68 billion) at an average price of $68,051 from Mar 1 to Apr 15.
Address:
bc1qcpflj68s3ahy4xajez4d8v3vk28pvf7qte2jmlftvxzfke2u6mqsge3gvh”
At time of writing, Bitcoin is trading at $63,315, 14% down from its all-time high of $73,737.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/AVA Bitter