A significant Bitcoin whale wallet has just increased its holdings by acquiring $200 million worth of Bitcoin after liquidating over 11,400 Bitcoin in recent months, just as the original cryptocurrency experiences a resurgence.
On March 24, the Bitcoin (BTC) whale added 2,400 Bitcoin — valued at more than $200 million — to its portfolio, according to a post by blockchain analytics firm Arkham Intelligence on X.
As per the data shared by Arkham, despite some sales occurring in February, the whale now possesses over 15,000 Bitcoin in its wallet, totaling more than $1.3 billion at current market prices.
“A $1 billion Bitcoin Whale just withdrew $200 million worth of Bitcoin this morning from Binance,” Arkham stated.
The whale initiated its Bitcoin acquisition five days ago, after previously selling portions of its holdings when Bitcoin’s price fluctuated between $100,000 and $86,000 in February. Data from CoinGecko indicates that Bitcoin was valued at over $104,000 on February 1 but steadily declined to a low of $78,940 by February 28.
Source: Arkham Intelligence
This movement by the whale coincides with a recent rebound in the price of Bitcoin.
In the past week, Bitcoin has been trading between $81,000 and $88,000, as noted by CoinGecko, with a notable price increase of 3% on March 24, moving away from its low of $76,900 recorded on March 11.
Bitcoin whale stirs from slumber
Simultaneously, another Bitcoin whale has emerged from eight years of dormancy, transferring over 3,000 Bitcoin, valued at $250 million, in a single transaction on March 22.
“His Bitcoin holdings grew from $3 million in early 2017 to over $250 million today — all held on one address for over 8 years,” Arkham noted in a post on March 22 via X.
Additionally, major Bitcoin investor BlackRock, the world’s largest asset manager with about $11.6 trillion in assets under management, has been progressively increasing its Bitcoin holdings over the past week, according to Arkham.
Over 15 transactions, BlackRock acquired an additional 4,054 Bitcoin, raising its total holdings to 573,878, valued at over $50 billion, as shown by data from Bitbo’s Bitcoin treasury tracker.
BlackRock’s iShares Bitcoin Trust (IBIT) has also been at the forefront of a surge in spot Bitcoin exchange-traded funds (ETFs) in the U.S., reversing a five-week streak of net outflows with a net inflow of $744.4 million.
The majority of these net inflows came from BlackRock’s iShares, which accounted for $537.5 million, followed closely by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $136.5 million.
In addition to Bitcoin whales, other crypto enthusiasts are expanding their portfolios as well. Lookonchain utilized Arkham data to track a single Ether whale who added 7,074 Ether (ETH) to its holdings on March 21, valued at $13.8 million.
Source: Lookonchain
Over the last week, Ether has traded between $1,876 and $2,097, as per CoinGecko data. It remains over 57% below its all-time high of $4,878 reached in November 2021.
Nevertheless, Ether’s open interest saw an all-time high on March 21, and the count of addresses holding at least $100,000 worth of Ether has been increasing since early March, rising from just over 70,000 addresses on March 10 to more than 75,000 by March 22.
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