May 25, 2022

Bitcoin Kit Purchased 2,822 BTC in Seven Days, Worth $117 Million

The third largest bitcoin whale in the world has activated the accumulation mode, having added 2822 BTC to its balance over the past seven days (data BitInfoCharts).

The new acquisition of bitcoins cost him $ 117,144,042, and the cost of the cryptocurrency stored at his address reached $ 5,202,214,689.

Crypto analyst Benjamin Cowen noted that, unlike many leading companies, cryptokit remains quite active, and does not just buy and store.

He constantly trades in the range of bitcoin price movement, buying on falls and selling on local highs.

In contrast to the relatively active trading strategy of the cryptokit, Cowen said that most of the "fat" bitcoin wallets are more inclined to buy,

“The reason I keep following these wallets is because it would be nice to see when they start buying again.

Without bright price dynamics, we fall into depression, but seeing the accumulation of wallets, it becomes interesting ... Most likely, they will raise the price.