Whale Accumulates Over 12k BTC in Just 30 Days
A mysterious whale has been accumulating a large amount of Bitcoin in just 30 days, according to data from Arkham Intelligence. The whale’s address was created on November 1, 2023, and has been receiving Bitcoin daily from various addresses. The first sender was a wallet associated with the BitMEX exchange.
Institutional Investors Speculated to Be Involved
The active accumulation of Bitcoin by this address has caught the attention of the crypto community. Wealth Mastery founder Lark Davis suggests that institutional investors may be trying to get ahead of the approval of a BTC-based spot ETF.
Reddit Users Point Out Alleged Connection to BitMEX
The news about the mysterious wallet with a significant amount in its account has made its way to Reddit, where users are speculating about a potential connection to BitMEX.
The Number of Crypto Billionaires and Millionaires
According to Henley & Partners, there are currently six Bitcoin billionaires and 22 crypto billionaires worldwide. Additionally, there are 88,200 individuals who own digital assets worth over $1 million. The total market capitalization of cryptocurrencies is estimated at $1.18 trillion, with more than 425 million users holding savings in cryptocurrencies.
Hot Take: Increased Institutional Interest in Bitcoin Accumulation
A mysterious whale accumulating such a large amount of Bitcoin within a short period has raised speculation about institutional investors’ involvement. With the possibility of a BTC-based spot ETF approval on the horizon, these investors might be positioning themselves strategically. This development highlights the growing interest and potential impact of institutional players in the crypto market.
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