According to Lookonchain, a smart money investor recently purchased 225.5 $BTC. The worth of these Bitcoin is $14.91 million. This purchase adds to their previous acquisitions, making a total of 1,147 $BTC bought since July 17. The average purchase price for these Bitcoins was $65,878.
Investor’s $1.3M Profit from Bitcoin Purchase Highlights Confidence in BTC
At the current price, this investor has made more than $1.3 million profit only in Bitcoins. Such a high level of profit means that one has a solid and effective business plan regarding investments in Bitcoins.
This latest purchase also indicates the investor’s faith in Bitcoin and its possibility for high returns. In this way, they continue to accumulate the coins, which altogether put them in a profitable position as long as the price rises in the future. The purchase of such a large number of Bitcoins within a short span of time reflects a strong intention and confidence in the Bitcoin.
Smart Money Investment Boosts Market, Highlights Importance of Timing
This has proven a good example of smart money investors in the market thus improving the market scenario. But this source underlines the significance of timing and strategic purchase in terms of getting the most favorable results.
Overall, the current activity, reported by Lookonchain, of this investor showed positive sentiments towards Bitcoin and the expectation of even higher increase in the future.
