Major BTC Purchase by “Smart Money” Investor
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 smart money bought 244 $BTC($16M) again 2 hours ago!
He has bought 921 $BTC($60.6M) at an average price of $65,821 since July 17.https://t.co/2bNjhRD1sr pic.twitter.com/XGj6P0MpEs
— Lookonchain (@lookonchain) July 25, 2024
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 smart money bought 213.78 $BTC($14.48M) again 9 hours ago!
He has bought 677 $BTC($45.6M) in the past 4 days.https://t.co/dOPKLO9Irg pic.twitter.com/tZXJ6H6bBn
— Lookonchain (@lookonchain) July 21, 2024
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.
