Mysterious Bitcoin Whale Allocated Nearly 5,000 BTC

  • September is generally the most painful month for Bitcoin – Experts
  • BTC price at the time of writing: $19,426.29
  • BTC Sentiment Still Far From Bullish

The account of a very self-assured large-scale fork was noticed by an experienced Bitcoin (BTC) analyst.

Bitcoin (BTC), like all major cryptocurrencies, did not recover from its bearish decline in early Q4 2022. However, some whales are convinced that dips can be bought.

$500 million whale keeps buying

An anonymous Bitcoin (BTC) analyst and investor using the Twitter handle @Capital15C has shared details of an unusual Bitcoin (BTC) network address.

They have been aggressively buying digital gold since September 17, 2022. They usually buy BTC for 100-200 coins. His net balance increased to 26,280 BTC from 21,799 BTC.

The USD-denominated balance of this portfolio exceeded $500 million in less than three weeks. Two days ago, the largest cryptocurrency hit a local high of over $521 million, despite underperforming.

Based on observations spanning multiple years, September typically represents the toughest month for Bitcoin (BTC). Commenters on @Capital15C wonder if this is the storage of a Bitcoin-friendly neobank or the wallet of a very wealthy private holder. Extreme Fear” dominates the boring market.

Meanwhile, the sentiment regarding Bitcoin (BTC) remains extremely negative. His “fear and greed” index will remain in the extreme fear range as of September 15, 2022.

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Who are the largest corporate holders of Bitcoin?

A few years ago, it seemed completely ridiculous that a publicly traded company could have Bitcoin on its balance sheet. The mainstream cryptocurrency was believed to be too volatile for any serious business to adopt.

Numerous prominent investors, including Warren Buffett, referred to the asset as a “bubble waiting to burst.”

Since 2020, several large corporations have bought Bitcoin, suggesting that this negative sentiment has subsided. In particular, MicroStrategy, a company that provides business intelligence, set the pace when it bought $425 million worth of Bitcoin in August and September 2020.

Many others, including Tesla, have since followed suit. By far, MicroStrategy has the most Bitcoin assets of any publicly traded company. Through 2021 and 2022, the business analytics platform will aggressively acquire Bitcoin as its main reserve asset.

The company had 129,699 Bitcoin in reserve as of August 30, 2022, which is equivalent to approximately $2.5 billion.

Marathon Digital Holdings has 10,054 BTC, Coinbase has 9,000, Square Inc. has 8,027), and Hut 8 Mining Corp. has 7,078 BTC.

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