Unknown investor buys $3 billion worth of Bitcoin, becoming one of the largest owners
A mysterious investor used over $3 billion to buy nearly 133,000 Bitcoin on August 10 and became one of the three largest individual Bitcoin holders.
The unknown buyer bought his Bitcoins for an average of $23,000 each.
According to June 2022 data, Satoshi Nakamoto is the largest Bitcoin holder among all individuals, exchanges, governments and companies. Nakamoto is estimated to have mined over 22,000 blocks, each with a reward of 50 BTC, after the launch of Bitcoin in 2009. Estimates suggest that Nakamoto has over 1.1 million Bitcoins in nearly 22,000 different wallets.
Largest Bitcoin Holders
Besides Nakamoto, the largest Bitcoin holder is asset management firm Grayscale which holds nearly 683,480 Bitcoins. Crypto exchange giant Binance follows Grayscale as the second largest Bitcoin holder across all categories. With approximately 447,197 Bitcoins, Binance also ranks first among crypto exchanges that hold Bitcoin.
Almost all individual Bitcoin holders have unknown identities, except for the Winklevoss Twins. Cameron and Tyler Winklevoss invested the millions they earned from a lawsuit against Facebook into Bitcoin and became the first Bitcoin billionaires. They reportedly own 1% of all Bitcoin in circulation. They rank third among the individuals with the largest Bitcoin holdings.
Binance’s CEO, Changpeng Zhao, is also estimated to be among the largest owners, as his net worth is $96 billion. He admitted that his crypto holdings make up most of his net worth and that he only holds Bitcoin as an investment.
Based on the chart above, the mysterious investor who bought 113,000 Bitcoins has placed himself right behind Nakamoto as the second person with the largest Bitcoin holdings.
Is Bearish Sentiment Changing?
As soon as the winter market started, the biggest Bitcoin holders started to sell out. The trend has continued since the beginning of May 2022. While the largest holders continued to leave the markets, crypto-enthusiasts without significant amounts to spare began to invest and collect Bitcoin. Investors with less than 10 Bitcoin are called “Shrimp” and have bought while prices are reasonable.
According to Blockworks’ co-founder Jason Yanowitz, the shrimp may be on the right track. He recently identified the stages of bear markets in crypto and said that the stagnant price stage would make investors want to exit the market. However, those who resist and stay in the market will be the real winners of crypto in the long run.
Bitcoin prices have suffered through the coldest crypto winter in history. However, the Bitcoin price crossed $24,000 on August 10, after a long time.
