A Bitcoin whale that has held coins for 12 years just transferred 250 BTC worth nearly 30 million USD to Binance.
This is a whale that accumulated 5,000 BTC since 2013, sold 1,000 BTC in the first 8 months of 2024 at an average price above 102,000 USD each and still holds 4,000 BTC valued at approximately 474 million USD.
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A Bitcoin whale has been accumulating 5,000 BTC since 2013, when the price was 332 USD/coin.
Sold 1,000 BTC in the first 8 months of 2024, bringing in about 102 million USD.
Currently holding 4,000 BTC remaining worth nearly 474 million USD.
Who are Bitcoin whales and what is their role in the cryptocurrency market?
Bitcoin whales are understood as individuals or organizations that own a large amount of BTC, having a significant influence on price volatility in the market. According to financial expert Jane Liu (2023), whales play an important role in creating trading trends due to their ability to manipulate liquidity and investor sentiment.
A prime example is a whale that has held 5,000 BTC since 2013, when the price was only 332 USD, now has become a major influencer in the global Bitcoin market.
Why did this whale decide to transfer 250 BTC to Binance?
Transferring 250 BTC to a centralized exchange like Binance often indicates an intention to sell or reallocate assets. According to Michael Carter, CEO of a cryptocurrency investment fund (2024), large transactions from whale wallets often precede price corrections or new investment opportunities.
"Large money transfer activities by whales are important signals that traders and analysts must closely monitor to predict trends."
Michael Carter, CEO of the Cryptocurrency Investment Fund, April 2024
In this case, the whale has sold 1,000 BTC in the past 8 months, indicating a planned profit-taking strategy as Bitcoin's price rises above 102,000 USD.
How has this whale accumulated and traded Bitcoin over the past 12 years?
The whale received 5,000 BTC in November 2013 when the price was 332 USD/coin, equivalent to about 1.66 million USD. By the end of 2023 and early 2024, they sold 1,000 BTC at an average price of 102,410 USD/coin, bringing in about 102 million USD.
Currently, the whale still holds 4,000 BTC valued at approximately 474 million USD, reflecting a long-term holding strategy, benefiting from the long-term price uptrend of Bitcoin.
"Holding Bitcoin long-term is one of the most profitable investment strategies of all time, especially for forward-thinking investors."
Nguyen Thi Hanh, Cryptocurrency Market Analyst, 2024
Compare the value and trading strategies of the whale before and now
Time Period BTC Amount BTC Price (USD) Total Value (USD) Trading Strategy November 2013 5,000 BTC 332 USD 1.66 million Long-term holding 2024 (first 8 months) 1,000 BTC 102,410 USD 102 million Gradual selling for profit Currently 4,000 BTC 118,500 USD (estimated) 474 million Long-term net holding
Frequently Asked Questions
How can Bitcoin whales affect market prices?
With a large amount of BTC, whales can cause price volatility when they buy or sell, affecting liquidity and the sentiment of retail investors.
Why do whales choose to hold BTC long-term?
Holding long-term helps them take advantage of Bitcoin's sustainable price uptrend, increasing asset value over time.
What does transferring BTC to an exchange mean?
Often a sign that whales are preparing to sell or restructure, significantly affecting supply and demand in the market.
How to detect whale transactions on the Blockchain?
Through on-chain data analysis, tracking large movements from wallets with a long-term holding history.
What is the current estimated value of this whale's BTC?
Approximately 474 million USD for 4,000 BTC, equivalent to the current price of Bitcoin at over 118,000 USD each.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-chuyen-250-btc-moi/
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