Whales are Selling and Grayscale is Buying ALL the Bitcoin
Unknown whales bought bitcoin for $ 500 million
Unidentified institutions quietly bought $ 500 million worth of bitcoin
Who exactly can be behind such a large purchase is still unknown
Bankers actively discourage people from investing in cryptocurrencies
Unknown institutions withdrew almost half a billion US dollars in bitcoin from the Coinbase cryptocurrency exchange to cold wallets
A group of large investors bought bitcoin in the amount of $ 500 million. According to Whale Alert, unknown persons withdrew 14,892 BTC from the Coinbase crypto exchange. However, they later split the amount into 100 wallets at 147 BTC..
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The crypto community believes that a large corporation is behind the purchase, aiming at long-term payback. Users have already suggested that Elon Musk, Michael Sailor (MicroStrategy) or another large financial institution like Guggenheim Partners could be behind the purchase..
Institutionals hide bitcoin
The head of the crypto service CryptoQuant, Ki Yong Joo, suggested that the purchase of almost 15 thousand bitcoins occurred at a price of $ 32,400 on the OTC service Coinbase. At the same time, Zhu considers the withdrawal of cryptocurrency to a cold wallet as a “bullish” signal.
This is already the second such large operation in 2021 in the range of $ 31-35 thousand.In early January, unknown whales also withdrew 38 thousand bitcoins at a rate of $ 31 700 from the Coinbase Pro crypto exchange.
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It is worth recalling that later the bitcoin price managed to drop to $ 30 thousand, but soon rose to $ 42 thousand. It is noteworthy that the commissions in the bitcoin network have already reached two-year highs. At the time of writing, the average transfer fee is $ 11.5.
The size of the transaction fee on the bitcoin network. Source: Blockchain.com
Some believe that Elon Musk is behind their growth. We will remind, earlier Musk involuntarily provoked the growth of network activity, having published information about bitcoin on his Twitter.
Earlier, the editorial staff of BeInCrypto reported that bankers are actively discouraging people from crypto investments. At the end of January, ECB Governing Council member Gabriel Makhlouf said that crypto investors should be ready to lose all their money soon..
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