Holding the title of the largest cryptocurrency by market value Bitcoin (BTC) Despite the recent price movements, it continues to attract the attention of large investors. After the recent decline in the cryptocurrency market, Bitcoin whales, which hold significant assets, made purchases.
According to the post of crypto analytics platform Santiment, whales have bought a total of 11,629 BTC since August 17. This shows that these investors are not affected by the fluctuations of the crypto market and approach them with a long-term perspective. These investors also see downturns as an opportunity to strengthen their portfolios and protect their valuable assets.
🐳🦈 #Bitcoin jumped back as high as $26.8K Wednesday as key whale & shark addresses are now collectively adding to their stacks once again. There are currently 156,660 wallets holding 10 to 10,000 $BTC, and they have accumulated $308.6M since August 17th. https://t.co/6vuJpHRTvD pic.twitter.com/vuNgEER2fZ
— Santiment (@santimentfeed) August 23, 2023
Bitcoin Investors Eyes on BlackRock!
The activity of these major investors increased even more after BlackRock, one of the world’s largest asset managers, applied to launch a spot Bitcoin ETF in the US. This move of BlackRock once again revealed the interest of the corporate world in cryptocurrencies. Specifically, between June 17 and July 10, whales bought over $2 billion in Bitcoin.
These big investors, called whales and sharks, accumulate Bitcoin not only during periods of decline but also during periods of price increases. This strategy shows that investors are following market movements closely and waiting to seize opportunities.
Finally, speculation that SpaceX may have sold Bitcoin holdings and large investors continuing to accumulate BTC at a time of market-wide pullback revealed that the whales were not interested in short-term movements. Such investors take a resilient approach to the fluctuations in the cryptocurrency market by thinking long-term and following important developments.
