Bitcoin’s price crash is not dissuading one of the biggest BTC whales on record from accumulating more.
According to blockchain explorer service Blockchain.com, a whale who already owns tens of thousands of Bitcoin just added nearly 3,720 Bitcoin.
The transfer fees for the transaction amounted to 0.005 Bitcoin or approximately $189.6 based on the cryptocurrency’s price at the time of writing.
The Bitcoin whale’s address currently ranks fourth among the richest Bitcoin addresses in existence. The address currently holds 112,593.6 Bitcoin or about 0.6% of all BTC in circulation.
The address is in the unique league of just four addresses that hold more than 100,000 BTC.
It is also the richest Bitcoin address on the blockchain that is not associated with a cryptocurrency exchange. All the other three addresses that hold more Bitcoin belong to Binance, Bitfinex and Huobi cryptocurrency exchanges respectively.
A glimpse of the whale’s history of transactions shows that the large investor has been accumulating as the flagship cryptocurrency’s price crashed. Since mid-May when Bitcoin’s price fell from around $47,000 to just around $30,000 to date, the whale has purchased approximately 13,667 BTC and sold zero.
The Bitcoin whale has also been consistently accumulating since the bull run started. Between now and December 16th, 2020, when Bitcoin broke above $20,000 for the first time, the whale has added approximately 38,186 BTC.
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 loses 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/80’s Child