Bitcoin whales are on the move as Bitcoin’s price climbed over 4% in the past week.
A Bitcoin whale recently made headlines after purchasing 2,400 BTC, worth over $200 million, on March 24, despite selling 11,400 Bitcoin earlier this year, according to blockchain analytics firm Arkham Intelligence. This latest acquisition brings the whale’s total holdings to over 15,000 BTC, valued at more than $1.3 billion. The purchase was made shortly after a Bitcoin price rebound, with the cryptocurrency trading between $81,000 and $88,000 over the past seven days.
Interestingly, another whale account, dormant for eight years, suddenly moved over 3,000 BTC (approximately $250 million) on March 22. This long-term holder has seen their Bitcoin stash grow from $3 million in 2017 to its current value of $250 million.
Institutional interest in Bitcoin has also increased. BlackRock, the world’s largest asset manager, accumulated an additional 4,054 Bitcoin across 15 transactions, bringing its total holdings to 573,878 BTC, worth over $50 billion. The firm’s iShares Bitcoin Trust (IBIT) led a resurgence in spot Bitcoin ETFs, with net inflows of $744.4 million.
Meanwhile, Ether whales are following suit. One whale added 7,074 ETH, worth $13.8 million, on March 21. While Ether is still down over 57% from its all-time high, it continues to see a rise in large address holders.
Disclaimer: Please gamble responsibly. Only gamble with money you can afford to lose, and seek help if you feel gambling is affecting your life.
