Giant Bitcoin Whale Alert: It Accumulated Thousands of BTC Recently? Who Is Behind It?

An anonymous cryptocurrency whale has accumulated 11,268 Bitcoins worth a total of $424 million in the last three weeks alone.

Purchases, including 875 BTC purchases made today, have sparked speculation in the cryptocurrency community about the identity of the mysterious whale.

According to data provided by Bitinfocharts, the whale in question has become the 74th largest Bitcoin owner with his latest purchases. All BTCs were purchased when the price was between $36,000 and $38,000. At current prices, the mysterious whale has an unrealized profit of approximately $9.8 million.

The cryptocurrency community on social media continues to debate the identity of the mysterious whale. Some community members claim that the giant whale belongs to one of the companies of the US asset management giant that has applied for Bitcoin Spot ETF. However, there is no clear information on this subject yet.

If the Bitcoin Spot ETF is approved, asset managers will be required to own and store large amounts of Bitcoin. This is different from futures ETFs, where holding buying and selling contracts representing the underlying asset is sufficient.

*This is not investment advice.