Bitcoin (BTC) Evangelist Jeremie Davinci Hints at the Asset's Indestructible Nature, Whales Accumulate on the Dip

Jeremie Davinci, an early Bitcoin investor and an important figure in the crypto community, has taken to his account on social media platform X (widely famous as Twitter in the past) to publish a tweet that shows his strong unfading belief in BTC.

An early Bitcoin (BTC) investor and a prominent figure in the crypto community, Jeremie Davinci, has expressed his unwavering bullishness towards BTC in a recent tweet.

Davinci's tweet, which can be interpreted in multiple ways, reads: "Truth is indestructible. #Bitcoin" This could be referring to specific aspects, such as the strictly limited 21 million Bitcoin supply, or to broader, abstract concepts that Bitcoiners often wax lyrical about, regarding BTC as an idea or an innovative concept.

Truth is indestructible.#Bitcoin

This triggered bullish comments from Davinci's followers, who support the world's flagship digital currency, Bitcoin.

Over the past 24 hours, BTC has been trading in the $69,000 range, and just in the past hour, it plunged to the $68,300 zone, losing 1.33% in the past day overall. Looking at a longer time frame, it has shed 7.26% since Tuesday, Oct. 29, after it had come really close to the $74,000 price high.

Bitcoin whales are buying the dip

Relatedly, as reported by U.Today earlier, crypto tracking platform Whale Alert unveiled the details of a massive Bitcoin withdrawal from major crypto exchange Bybit. An anonymous whale moved 2,000 BTC from there, most likely to a cold storage address. That amount of crypto was equal to $137,247,624. This whale currently holds an astonishing 51,710 BTC, which is worth $3,569,790,542.

Meanwhile, another on-chain data source, Lookonchain, also reported several large Bitcoin purchases made on the Binance exchange since Nov. 1. Five different wallets purchased 2,780 Bitcoins in total in the following chunks: 880 BTC, 615 BTC, 595 BTC, 550 BTC and 140 BTC.

All of these five purchases except for one were made below the $70,000 level. The massive Bitcoin price dip seen at the moment can be attributed to the high level of uncertainty present on the market as U.S. Election Day approaches. Many weak hands are selling their Bitcoin, but those holders who are called "diamond hands" in the crypto community are purchasing BTC at a discount from them.

Multiple experts have predicted a staggering Bitcoin rise next year. Among them was Robert Kiyosaki, known for authoring "Rich Dad Poor Dad" on personal finance management. In a recent tweet, he highlighted that he loves "the Bitcoin Standard."