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

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1 min

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 On April 7, 150 bitcoins were withdrawn from three wallets that had been dormant since 2009 in three transactions of 50 BTC.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.

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