Bitcoin Sharks Purchased 52,000 BTC Over he Past Month

In the past month, users of wallets holding between 10 and 100 Bitcoins have been actively buying the top digital currency, according to a recent tweet from on-chain data business Santiment.

Bitcoin whales continue their aggressive buying

According to a tweet from the Santiment analytics team, the aforementioned cryptocurrency wallets have gained an astonishing 52,000 BTCs over the course of the last five weeks. As the current BTC/USD exchange rate, this amount in BTC is valued at $1,124,619,600. The purchases were made when BTC was trading at a significant loss of about 27% from its previous highs.

The total amount of the leading cryptocurrency possessed by these BTC sharks has risen to an astounding 4.29 million coins as a result of their purchases.

On July 7, a report came out showing a decrease in the amount of jobless claims, which pushed BTC around 7 percent up, along with the rest of crypto and the stock market as well.

The king crypto went up from the $20,500 zone, rising above the $21,100 level. As of this writing, BTC is changing hands at $21,560, according to CoinCu.

Since MicroStrategy intervened, Bitcoin is up 83%

Michael Saylor, the CEO of the industry-leading business intelligence software company and a well-known Bitcoin investor and evangelist, recently reminded his Twitter followers that since his company began using BTC in August 2020, the digital currency has increased by 83 %, and the company’s shares have increased by almost 80 %.

Saylor stated that while BTC gained by 83 %, the S&P only increased by 16 percent, and the Nasdaq 100 only increased by 6 percent, highlighting the benefits of Bitcoin compared to conventional financial markets. Gold, Bitcoin’s biggest competitor as a store of wealth, has fallen by a total of 14%, while silver has fallen by 33%.

MicroStrategy added 480 more Bitcoins to its collection as part of its ongoing investment. The corporation purchased this quantity of cryptocurrency for around $10 million, and as of right present, it holds 129,699 BTC worth nearly $4 billion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News