Third-Largest Bitcoin Whale Buys Another $137M Worth of BTC at $50K

The third-largest BTC whale has accumulated more than 2,700 coins in a day as the cryptocurrency spiked above $50,000. The mystery entity has bought over 5,600 BTC in the past two weeks.

• CryptoPotato frequently reports the behavior of this particular whale who tends to sell when the cryptocurrency’s price has gone on a tear lately and reaccumulates when it cools off.
• In the past few days, BTC more than cooled off as it plummeted from $58,000 to a low of $42,000 on Saturday.
• However, the whale remained relatively silent during this crash and didn’t make any purchases, at least in this known wallet.
• As BTC began its recovery and reclaimed $50,000 earlier today, though, the entity started accumulating. They have bought 2,702 coins at an average price of $50,621, meaning that they had spent nearly $140 million.
• As CryptoQuant’s analyst, VentureFounder, pointed out, the whale has accumulated 5,624 bitcoins since November 22nd, worth $290 million at today’s prices.
• Moreover, VentureFounder added that this is “officially the highest number of bitcoin ever held in this wallet: 118,017,” as this whale has spent around $2.5 billion.
• The previous record was in July this year, when the asset had fallen around and below $30,000.

You already bought 8,117 #BTC in the low $50k since the November correction, BTC dumped <$50k suddenly, what do you do?

The 3rd largest #Bitcoin whale wallet: BUY 2,702 more BTC in one day.

This #whale wallet added 2,702 $BTC today at $50.6k for a whopping total of $136.7M USD. pic.twitter.com/BlbcgpKbrR

— venturefoundΞr (@venturefounder) December 7, 2021