Content adapted from this Zerohedge.com article : Source
Bitcoin surged the past week closing in on the $10,000 mark. This is the first time in two weeks that it hit this level.
The move is bitcoin amounts to almost a 50% run-up from the lows.
Could it be that one buyer is primarily responsible for this move?
According to BitInfoCharts, a mysterious buyer with a Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased an astronomical amount of bitcoins worth $344,000,000 at a blended cost basis around $8,400 from 02-09-18 through 02-12-18. In total, this Bitcoin whale doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth somewhere around $900,000,000 at today’s price ($9,400).
Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 is number three on the top 100 richest Bitcoin address in the world.
The other factor in this recent move is the downplaying of the threat of a ban by the officials in South Korea.
Non-adatped content found at zerohedge.com: Source