An anonymous capitalist has purchased $344 million in Bitcoin when the price was low and pocketed 96,650 BTC. The purchase was made between 9th Feb and 12th Feb with the Bitcoin address “3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64.”
Alex Sunnarborg, one of the hedge promoters of Hedge fund Tetras Capital, says,
“The investor is one of many that have chosen to invest in virtual currencies during a period of free falling prices in the hope they rise again”
He also added,
“Not sure who the massive purchaser was, however, several have bought Bitcoin since the dip and have made additional profits since the rebound and extra regulative clarity within America and Asia, we will see another bull rally from Bitcoin.”
Bitcoin has even made a small recovery last week after the catastrophic 70% decline since December last year. At present, it is valued at $11137.90 with $2342.85 additional to the virtual currency’s worth and increasing by nearly 26% since the past week.
Andy Hoffman, the operator of a cryptocurrency consultation firm, declared that the present worth of 96,650 BTC is One Billion dollars approx at the current market rates.
He even tweeted saying,
“Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased $344 million worth at an average of $8,400 (£5980.55) from 2/09/18 through 02/12/18 – then, doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth around $900,000,000 at today’s price ($9,400).”
On December 17, Bitcoin hit an all-time high of $19,535.70 before sharply declining. A brief revival of the cryptocurrency markets occurred on 6th Jan when Bitcoin recovered to $17,035.60 but soon after which it had a dramatic free fall down to under $6000.
Hoffman operator at CryptoGoldCentral continues,
“If you are in a low-cost electricity jurisdiction, with land and access to the grid, you are sitting on a monetizable digital gold mine.”
David Silva Smith, an entrepreneur and an angel investor says,
“There will never be another digital gold.”
Meanwhile, Bitcoin Cash, Ethereum and Litecoin have all seen an increase in price in the last week giving investors a huge sigh of relief. Analysts also commented on the possibility of this anonymous investor’s recent investment being the possible spark which ignited the current short-term bull run to $11K.
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