Bitcoin Whales Start Moving, Bitcoin Price is Predicted to be Affected

A number of large investors aka whale Bitcoin have been detected as starting to move. After more than three years of no transactions, a whale Bitcoin

Several large investors, also known as Bitcoin whales, have been observed making their move. After three years of showing no transactions, a Bitcoin whale that holds hundreds of millions of dollars finally surfaced by moving Bitcoin valued at over half a billion dollars. To be precise, 530 million US dollars (around Rp8.48 trillion) in Bitcoin (BTC) assets were moved, according to Arkham Intelligence.

The whale moved the BTC it had stored to two new addresses. One address received Bitcoin valued at US$420 million (around Rp6.72 trillion), while another address held 1,000 BTC, which is roughly equivalent to around US$107 million (around Rp1.71 trillion).

This massive Bitcoin movement has garnered attention within the crypto community. The whale's last transaction occurred in April 2021, and there was no activity observed after that. Many have speculated on the potential impact of the whale's movement on the future price of Bitcoin, given the large volume of transactions. Currently, the price of Bitcoin is around 100,850 (IDR 1.6 billion) per coin.

In addition to the Bitcoin whale's movement, Arkham Intelligence also reported on MicroStrategy's latest Bitcoin purchase. The large business intelligence company just purchased $1.5 billion worth of Bitcoin (approximately IDR 24 trillion) at an average price of US$100,400 (approximately IDR 1.6 billion) per Bitcoin. This purchase adds approximately 15,350 BTC to their portfolio, which now totals 439,000 BTC.

Another Wall Street giant, Fidelity Investments, has also increased its purchase of crypto assets. Recently, Fidelity acquired 250 million US dollars (approximately IDR 4 trillion) worth of Ethereum, which constitutes 16% of the net inflow into their Ethereum's ETF (exchange-traded fund) fund. As of December 16, Ethereum's total net inflow into ETF Fidelity reached 1.38 billion US dollars (approximately IDR 22.08 trillion).

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