In a significant move, a prominent investor, often called “smart money,” acquired 244 BTC worth $16 million just two hours ago. This purchase highlights continued confidence in Bitcoin’s potential amidst market fluctuations.
The investor has been actively accumulating Bitcoin since July 17. Over this period, they have purchased a total of 921 BTC, valued at $60.6 million, at an average price of $65,821. This sustained buying spree underscores a strategic approach to amassing a substantial Bitcoin position.
Previous Buys This Week
Just nine hours before the latest purchase, the same investor bought 213.78 BTC for $14.48 million. This brings the total BTC acquired over the past four days to 677 BTC, costing $45.6 million. The consistent purchases suggest a strong belief in Bitcoin’s long-term value.
The trend of significant acquisitions began on July 18, when the investor bought 215.5 BTC for $14 million within just 16 minutes of a previous transaction. At that time, the investor’s holdings were reported to be 463.16 BTC, valued at $30 million.
The ongoing large-scale purchases by this “smart money” investor indicate a robust bullish sentiment towards Bitcoin. These strategic acquisitions influence market perceptions and drive future investment trends in the cryptocurrency space.
