Anonymous Trader Purchases $400 Million-Worth of Bitcoin

By Daniel Zo Bitcoin

During the last couple of weeks, the digital currency market has been affected by massive price swings, which have led to high speculation, bearish trends and an overall decrease in popularity for the market.

However, things are about to change, as recent statements given by economic analysts, are predicting that prices will return to the high values that they’ve been known for. While BTC is currently priced at $10,000, this figure remains low when compared to its $20,000 all-time high, yet still much higher when compared to its value several months ago.

Bitcoin

Several economic believe that bitcoin will reach a value of roughly $25,000 within the next couple of months. Additionally, many believe that a six figure value is impossible to attain this year, as the upwards growing trend that began at the end of 2017 has mostly stopped for now.

Regardless of this, an anonymous digital currency trader, has reportedly made a huge investment in the market, following beliefs that the upwards trend will indeed take place. With this in mind, a $400 million purchase worth of bitcoin was made between the 9th and 12th of February, to an address that initially had 55,000 BTC. Now, following the huge purchase, the crypto trader is now in possession of approximately 96,000 BTC.

While most singular trade purchases do not have an impact on the market, given their low value, the $400 million bearish buy can definitely influence it. Therefore, it has become fuel for numerous conspiracy theories, being discussed over on Telegram trading chat groups.

Given the large number of coins currently in possession for the anonymous trader, if prices continue to increase, there are high chances of them becoming a bitcoin billionaire, within a very short period of time. After all, at the beginning of February, BTC was trading at roughly $7,000 whereas now its price is close to $11,000.

Based on everything that has been outlined so far, what are your thoughts on the $400 million bitcoin purchase? Has the trader made a wise investment decision? Let us know in the comment section.