Big Bitcoin Buyer Purchases 133,000 Bitcoins Worth $855,000 USD In The Past Month
Blockchain technology is able to provide a public and immutable record of everything that occurs on the chain, and then it records it without attributing a face or identity.
One particular source to look at to check out a top-100 record of addresses with the most bitcoins or the top 100 crypto millionaires can visit bitinfocharts.com. Those who view the site can also note that there have been several addresses generated in recent weeks that have transactions amounting to 10,000 BTC – about $65,000,000 USD. The transactions too place in May, July, and August.
Additionally, the data shows that there have been five wallets with amounts from 11,000 BTC to 55,000 BTC from September to October. In sum, the amounts in the five wallets amounts to 133,000 BTC, which is the equivalent of the cold wallet of Bitfinex. Many note that the Bitfinex wallet is superior to the Binance cold wallet and Bittrex.
This suggests that there are large amounts of funds that are entering the bitcoin market, while maintaining stability in the space as well.
Some note that this trend supports a theory that “heavy” financial institutions could be transferring into the crypto market, but doing so in a quick manner or through the back door or the over-the-counter market. Moreover, four individuals or entities purchased over 130,000 bitcoins.
Even though it is impossible to determine the identities of the accounts or address of a single entity, what is more certain is that there are not many who have the purchase power to conduct such transactions, especially those over 10,000 BTC. Accordingly, some assume that they are financial institutions.