- A major Bitcoin investor (“whale”) has added 200 BTC worth $12.56 million to their portfolio, continuing a pattern of strategic large-scale investments.
- The investor has demonstrated excellent market timing, making significant purchases before key events like the Bitcoin ETF launch and selling at price peaks.
- This whale has accumulated approximately $181 million in profit from Bitcoin trading, showcasing their influential and successful strategy in the crypto market.
Raising the stakes, an influential Bitcoin trader with specially calculated trades has increased their Bitcoin position again adding 200 BTC which costs about $12.56 million. The whale address remains very active within the crypto market. This investor has reaped approximately $179 million to $182 million in gross profit from the BTC trading, making this player one of the most strategic in the Bitcoin market.
A smart whale with a profit of ~$181M on $BTC bought another 200 $BTC($12.56M) today!
The whale bought 6,000 $BTC($158.6M) at $26,429 from Aug 24 to Sept 2, 2023, and bought another 2,000 $BTC($88.76M) at $44,381 before the #Bitcoin ETF launched on Jan 10.
He wisely sold 1,500… pic.twitter.com/8MGoF9xX7D
— Lookonchain (@lookonchain) October 12, 2024
Accumulating BTC in 2023 with Pre-ETF Bitcoin Acquisition
It’s not the first time that this big whale makes a big investment. During 24 August – 2 September 2023, they purchased 6,000 BTC at $26,429 each with a total investment of $158,600,000. During this period, there was a low volatility concerning Bitcoin’s price, and the large investor found the perfect opportunity to obtain a large value of it.
This makes its pull worth it, given the large amounts invested into it by bulls in the grand plan of its high value.This whale made another significant move prior to the much anticipated debut of the Bitcoin Exchange-Traded Fund (ETF) on January 10 of this year.
At a significantly higher price of $44,381 per 2,000 BTC, they purchased them; overall, they invested $88,762,000 for this round. This construct, completed before the ETF’s release, demonstrates how the whale is keeping tabs on events and their schedule, purchasing stock well in advance of the debut.
Strategic Selling and Profit Realization
He not just acquired the whale of a position but also sold it at the very right time. In March, which coincided with Bitcoin price peak, they sold 1,500 BTC at an average price of $68,398 achieving sales revenue of $102.6 million. From this we can see that they have the right market timing skills, that is, they sell more during the peak and maximize their gains on their investments.
Today this whale possesses roughly 2615 bitcoins or forex equivalent of about One hundred and sixty five million dollars. They claim their total profit from Bitcoin transactions is approximately $181 million which makes them one of the most profitable in the crypto currency marketplace.