Anonymous Bitcoin Whale Adds 488 BTC to His Wallet During Market Down and has a total balance of 124,487 BTC

While a large proportion of inexperienced cryptocurrency traders panic and sell their relatively small holdings, a Bitcoin whale has added an additional 488 BTC to its portfolio already holding 124,487 BTC, exceeding that of Michael Saylor and his company by more than 100 BTC.

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Average Buying Whale:

If we take a look at the activity of the whale market, it is easy to see that the big players have been continually adding more cryptocurrencies to their wallets since Bitcoin started dropping from an all-time high of almost $70,000.

By pulling back in the average buying, the big players in the market can cut their losses after the bitcoin price recovers in the future.

The same strategy is often used by MicroStrategy.

The company also buys cryptocurrencies despite market conditions.

The company’s average entry remains at roughly $22,000 per bitcoin.

Compared to MicroStrategy, the anonymous whale remains significantly more profitable than the company that currently owns nearly $4.5 billion in bitcoin.

Cryptocurrency market performance:

The cryptocurrency market sell-off has exacerbated the slump in market prices since the start of the new year with the majority of cryptocurrencies losing up to 50% of their market value in less than a month.

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Read also:

Ripple CEO: Banning Bitcoin Will Have Disastrous Effects For Ripple

Bitcoin Is The Most Exciting Thing In The Financial World According To Michael Saylor

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