As the crypto market is falling, Whales are accumulating more and more Bitcoins (BTC).
Bitcoin falls below $43K; top bitcoin wallets took advantage of the low price to accumulate more Bitcoins.
As the BTC dropped below $43,000, prompting many retail investors to sell their BTCs because of extreme fear in the market and avoid further losses, BTC whales are filling their bags.
According to BitInfoCharts, on January 7th:
- The 33rd largest Bitcoin address increased its Bitcoin holding by 3000. Overall this wallet holds 25,000 BTC.
- The 34th biggest wallet bought an additional 1455 BTC; the wallet holds 24,736 Bitcoins.
- While the wallet present at third place purchased an additional 1880 BTC. Currently, this wallet holds a staggering 122,264 BTC.
Remember None of the above addresses are marked as exchange addresses.
As far as exchanges are concerned, Binance, one of the biggest cryptocurrency exchanges, bought the dip. Binance adds around 43,000 Bitcoins at an average price of $46,553.68, bringing the portfolio’s total balance to 116,601 BTC. Remember this is the Binance reserve wallet where the exchange keeps its BTC reserves.
Binance’s Bitcoin reserves make the exchange one of the largest companies in the world to have such a large amount of BTC as its holdings.