The third-largest Bitcoin (CRYPTO: BTC) wallet added 456 BTC to their holdings on the leading digital asset’s 13th birthday.
What Happened: After the Jan. 3 purchase, the Bitcoin whale now holds 120,845.57 BTC, worth over $5.6 billion.
The whale purchased the BTC from crypto exchange Coinbase Global Inc (NASDAQ:COIN) which was reported by wallet tracking tool WhaleAlert.
— Whale Alert (@whale_alert) January 3, 2022
In December 2021, the same wallet purchased 2,702 BTC for $137 million at an average price of $50,700 per coin.
Since then, Bitcoin’s price has fallen to $46,600 and has experienced significant volatility over the course of the past month.
According to on-chain data tool Whalemap, whales aren’t the ones making the most money on Bitcoin’s price action.
Who’s making the most money on Bitcoin? (hint: it’s not the Whales..)
Interestingly, those who hold 10-100 BTC got a very, very good deal pic.twitter.com/np8b3cIhiW
— whalemap (@whale_map) January 3, 2022
The group that holds between 10-100 BTC has actually made the most amount of profit, as per Whalemap’s analysis.
“Whale cohorts actually tend to be more active, move the funds round and hence increase their realised price. Others tend to HODL and hence their price of acquisition stays low. HODL is the way it seems,” said Whalemaps on Twitter.
Price Action: As of Tuesday morning, Bitcoin was trading at $46,824.00, down 0.91% in the last 24 hours.
Photo by Richard Sagredo on Unsplash