A smart investor has recently bought 6,070 Bitcoin (BTC) worth $395 million during the latest market dip. This whale has a history of making smart moves in the market, according to Lookonchain.
Smart Whale Buys 41,000 BTC in 2022, Sells for $1.74B
In the 2022 bear market, the whale bought approximately 41,000 [ccpw id=60415] at an average cost of $19,000 per coin, which means that the whale spent $794 million. This strategic move paved way for the achievement of sizeable profits and returns on investment.
From the bull markets of 2023 and 2024, the whale sold 37,000 BTC at an average price of $46,800 each. It is equal to total amount of $1.74 billion. This impressive sale gave producers more than $1 billion of profit. In fact, the whale’s timing was perfect because most of the purchases were made when the market was at their peaks.
Whale Resumes BTC Buying After 1.5 Years, Sparking Market Interest
This recent purchase marks the whale’s first acquisition of Bitcoin in 1.5 years. It indicates a renewed bullish outlook on the market. Other investors monitor the whale as their activity normally indicates large market direction.
To sum up, this smart whale has shown great timing in buying and selling its assets regardless of the market conditions. The latest buy of 6,070 BTC also underlines its tactical long-term accumulation of bitcoin investment, which strengthens the belief in the bitcoin’s future value.
