Binance buys the dip adding over 43k bitcoin to wallet

Bitcoin billionaires proceed to accumulate throughout the dip. As Bitcoin (BTC) crammed the $42K December value wick this morning, Bitcoin whales had been busy stacking sats.

One deal with belonging to Binance added 43,000 BTC on the 4th of January at a median value of $46,553.68, bringing the wallet’s complete worth to $5.5 billion.

Elsewhere, the third-largest Bitcoin deal with continued its spending spree, adding one other 551 BTC since Cointelegraph final reported it purchased the dip, simply two days in the past. The wallet continues to aggressively accumulate in the $40k vary, now proudly owning a complete of 121,396 BTC or roughly $5 billion.

There was some consternation on social media platforms about the wallet proprietor behind the 43,000 BTC purchase, however Binance confirmed possession of the deal with in a Tweet despatched out in 2019.

Related: Bitcoin Twitter flips bearish, neighborhood responds

The wallet deal with’ “3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb” supposed use was for the firm to concern a variety of crypto-pegged tokens on Binance Chain, beginning with $BTCB, a BEP2 token pegged to $BTC.

However, the wallet seems to have advanced into a chilly storage wallet for the world’s largest cryptocurrency alternate. In a Tweet by superior blockchain tracker @whale_alert in April final 12 months, the wallet was once more labeled as the Binance BTC reserve wallet deal with.

Although the wallet has been used to mint 13,001 BTC onto the Binance Smart Chain, the proprietor has by no means offered a single Satoshi. Since June 17, 2019, it has collected a whopping 116,601.13647202 BTC.

At the time of writing, the wallet is valued at roughly $4,982,770,577 or simply shy of $5 billion. Talk about diamond arms.