Third-Largesst Bitcoin Whale Buys BTC Worth $28 Million at $38.4K

The third-largest Bitcoin whale, whom CryptoPotato has been tracking for quite some time, has added another $28 million worth of BTC in the past couple of days.

• The third-largest Bitcoin whale remains an unknown entity that hasn’t been identified. Although some speculate that it might be a cold wallet for an exchange, its activity doesn’t support this thesis.
• The entity has demonstrated a clear long-term trend of accumulation and strategic buy-the-dip moves that are not typical of an exchange’s cold wallet.
• Now, it appears that the whale is at it once again, buying a total of 730 BTC in the last two days at an average price of around $38.4K.
• The first purchase was worth around $12 million, and it took place yesterday at a price of $38,200 – the whale added 318 BTC.
• Today, the entity bought another 412 BTC for almost $16 million at an average price of $38.5K.
• It’s worth noting that since then, the price surged and is currently trading at around $42K, which means that the whale is already well in profits on his last buy.
• In total, the address has a balance of a whopping $5.3 billion, holding 126,341 BTC in total.