Mystery Billionaire Whale Buys $1 Billion in Bitcoins

What? Mystery Billionaire Whale Buys $1 Billion USD in Bitcoins?

Earlier this week, I shared with my colleagues that someone purchased $400 million dollars in Bitcoins using Bitcoin Address: 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64  

According to BitInfoCharts, a mysterious buyer with a Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased an astronomical amount of bitcoins worth $344,000,000 at a blended cost basis around $8,400 from 02-09-18 through 02-12-18. In total, this Bitcoin whale doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth somewhere around $900,000,000 at today’s price ($9,400).

The bitcoin address “3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64” currently holds “92,347” coins as of this writing. This person or entity amassed the coins at a time when the price was lower than it currently is today.

Reports of the massive transactions were first reported by crypto consultant Andy Hoffman who announced through his Twitter account that a certain bitcoin address purchased millions worth of bitcoin between February 9 to February 12. Subsequently, the same address has seen incoming bitcoin in tune of $900,000,000 doubling the total holding to 96,000 coins.

Transactions associated with bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 first started in September 2017 when a small transaction of 0.01BTC took place. Then things started getting hot and heavy. A larger deposit of over 4100 bitcoins occurred on November 07, 2017

Looking at the bitcoin block explorer, you will see random deposits of around 1,000 bitcoins in December 2017 and January 2018. Then this month, February, many deposit transactions totally about  6,000 bitcoins were made.

Maybe the account belongs to a broker since there are two withdrawals in December to bitcoin address 1LAnF8h3qMGx3TSwNUHVneBZUEpwE4gu3D which was also opened around September 2017 with a current balance of
4702.67886729 BTC when it was about 400 BTC a few days ago.

 

Well stay tuned for the Billionaire Bitcoin Saga!

Until Next Time…

Faith Sloan “QueenWiki” 
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Queen Wiki

Faith Sloan also known as "Queen Wiki" is a cryptocurrency advocate, evangelist and educator. She has been a software engineer for 40 years and builds Decentralized Apps (DApps) on the Ethereum blockchain and plays with Tech toys. When she is not teaching, researching and writing about Cryptocurrencies and the Blockchain, she's advising companies and traveling the world while feeding her eating hobby.