An unknown investor has been buying $1 million worth of bitcoins every day for 9 months
Since August 11, 2021, he has accumulated more than 10 000 BTC
27.04.2022 - 11:55
146
1 min
0
What’s new? An unknown user has been buying $1 million worth of bitcoins every day since August 11, 2021. By April 27, he has accumulated 10 271,32 BTC ($399,5 million). The investor was probably using the Dollar-Cost-Averaging (DCA) strategy, using huge amounts in the process.
Information about the address on GetBlock
What is DCA? It is an investment strategy that minimizes volatility in large investments. Its essence is to regularly buy an asset for a fixed amount. DCA is usually used in the long term with buying intervals of a week or a month.
What had happened before? On April 7, 150 bitcoins were withdrawn from three wallets that had been dormant since 2009 in three transactions of 50 BTC. The exchange rate of the coin had risen by 17 million times by then. On March 10, another wallet inactive since 2010, transferred 489 BTC to an unknown address. At the time, the investor spent $83,13 to buy the cryptocurrency, and earned over $19 million.
Useful material?
Market
The assets were valued at $630 000 at the time of receipt
May 6, 2024
Incidents
Roger Ver has been accused of not paying taxes
May 1, 2024
Mining
After the publication of the financial report, the company’s shares added 5%
Apr 30, 2024
Market
The commission had previously warned the developer of potential enforcement actions
Apr 29, 2024
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024