Kicking off 2024 in grand style, a mysterious crypto whale with a seemingly bottomless Bitcoin appetite has shocked the market with a monster purchase of 8,888.88 Bitcoin, worth a cool $379 million. This bold move comes amidst a surging cryptocurrency market, fueled by rising Bitcoin prices and the looming approval of a Bitcoin ETF.
According to BitInfoCharts, this acquisition occurred at an average price of $42,640, capitalizing on Bitcoin’s recent consolidation phase. The anticipation behind this purchase was driven by the belief in Bitcoin’s potential as the premier investment instrument.
Rumor has it the mystery crypto whale is none other than Tether, a controversial but influential stablecoin issuer. According to data, Tether gobbled up these Bitcoins from Bitfinex, propelling the exchange into the top 10 Bitcoin holders. This latest acquisition brings Tether’s Bitcoin stash to a staggering 66,465.2 BTC, worth $2.82 billion. Talk about swimming with the whales!
Details of the Dive:
- The average price per Bitcoin? A tidy $42,640.
- Market Experts Like Michael Saylor (crypto whale) Cheer: With his own arsenal of over 174,000 Bitcoins, Saylor declared Bitcoin as winner of the year 2023.
- Why the Bitcoin Frenzy? Several factors are fueling the fire:
- ETF Anticipation: With a Bitcoin ETF potentially on the horizon, investors are bracing for a price surge.
- Mainstream Acceptance: Bitcoin’s influence spreads like wildfire, attracting big players and pushing toward broader adoption.
2024: The Year of the Bitcoin Boom?
With this mega-purchase sending ripples through the market, one thing’s clear that Bitcoin’s reign is far from over. Industry experts expect 2024 to be the year Bitcoin truly breaks into the mainstream, paving the way for even more whale-sized investments. MicroStrategy founder Michael Saylor who holds 174,530 Bitcoin declared in his X post Bitcoin as “This Year’s Winner is Bitcoin”.
His previous post on X dated 27 December reflects his confidence that Bitcoin is the future.
The reason behind optimism on the Bitcoin price surge is its resilience to stay above $42,000 showing a positive attitude and spot Bitcoin ETF’s potential approval on the horizon.
Related news: Top 10 Cryptocurrencies in 2023 by Market Cap
