Microstrategy’s Wallet Address Has Added 3,241 BTC in Just One Day!

Microstrategy has added another 3,241 BTC

While the price of the leading cryptocurrency floats roughly 5% below its seven-day high, Microstrategy’s address, which owns over 120,000 Bitcoin worth around $5.5 billion, has added another 3,241 BTC.

The firm’s address accumulated 289 BTC and then another 2,952 BTC on April 5th, making the firm become the third-richest whale in the world. The recently acquired BTC is worth little more than $145 million in total.

Bitcoin whales’ movements have been as unpredictable as the price of Bitcoin in recent weeks, and this week’s accumulation surge comes days after a series of major withdrawals.

The address seemed to have sold 3,000 Bitcoin between March 21st and March 31st. And another 4,500 BTC has left the wallet between April 1st and the early hours of April 5th, bringing the total amount of withdrawals to little more than $336 million in less than three weeks.

April often sees a lot of Bitcoin buying, according to an on-chain analyst at blockchain analytics firm Glassnode. An analyst at the firm, who goes by the pseudonym Checkmate, says that both whales and holders with less than one BTC are now buying.

“A historically strong month of Bitcoin buy side has seen exchange outflows hit approximately 96,000 BTC per month, with Shrimp and large Whales leading the charge. We still need to see market follow through, but there has been an impressive volume taken off market recently,” he said.

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.

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Hazel

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