Anonymous trader buys $400 million in bitcoin

[alyssa85]

https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16

Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin.

The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018.

“Not sure who that big buyer was but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia,” Alex Sunnarborg, Founding Partner of Tetras Capital said.

The unknown trader with the bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased the coins between Feb. 9 and Feb. 12, taking his bitcoin balance from 55,000 coins to more than 96,000.

It's probably a hedge fund that has invested a small portion of their funds and doesn't understand that you shouldn't keep it all in one address because the blockchain is public and everyone can see what you've done.

[1714173906]

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[gentlemand]

It's actually Huboi according to this - https://bitcointalk.org/index.php?topic=2966235.msg30473511#msg30473511

I doubt the real pros make such obvious moves. There'll be all types of autists watching wallets.

[alyssa85]

It's actually Huboi according to this - https://bitcointalk.org/index.php?topic=2966235.msg30473511#msg30473511

I doubt the real pros make such obvious moves. There'll be all types of autists watching wallets.

Thanks! I wonder why this story suddenly blew up. Did people not realize it was an exchange wallet?

[Jet Cash]

Well there must have been a lot of sales pressure to be able to absorb the purchase.

[gentlemand]

Thanks! I wonder why this story suddenly blew up. Did people not realize it was an exchange wallet?

Everyone loves some drama and conspiracy. If there isn't any floating around then they may as well fabricate it to keep themselves ticking over. If there isn't a disaster within ten minutes I tend to get rather twitchy myself.

[Xenrise]

It's actually Huboi according to this - https://bitcointalk.org/index.php?topic=2966235.msg30473511#msg30473511

I doubt the real pros make such obvious moves. There'll be all types of autists watching wallets.

Wow, thanks for this information. I really think that this would be a great news to bitcoin and cryptocurrency. And right now, good things are coming. And those bad things, bitcoin is about to forget that. I can say that bitcoin is now recovering.

[sjefdeklerk]

It's actually Huboi according to this - https://bitcointalk.org/index.php?topic=2966235.msg30473511#msg30473511

I doubt the real pros make such obvious moves. There'll be all types of autists watching wallets.

NO frikking way. I actually saw this guy buying his coins on Bitfinix and made a topic about it when I saw it happening: https://bitcointalk.org/index.php?topic=2864671.0

See my post where I noted he bought over 20.000 BTC in just 24 hours in that thread.

So this 100% sure isn't some 'exchange'. This is someone who actually purchased the coins because I saw it happening. But he did so in an extremely weird manner, not caring about millions of dollars (by only buying bitfinex and not other exchanges who were sometimes $600 lower already effectively giving away millions and millions of dollars). It's of course possible that it's a hedgefund. But it must then be a pretty stupid one. More likely, it seems to me, it's bitfinex with printed tether.

[putrisa]

https://www.marketwatch.com/story/anonymous-trader-buys-400-million-of-bitcoin-2018-02-16

Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin.

The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018.

“Not sure who that big buyer was but many have bought this dip and have added since the rebound and additional regulatory clarity in the U.S. and Asia,” Alex Sunnarborg, Founding Partner of Tetras Capital said.

The unknown trader with the bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased the coins between Feb. 9 and Feb. 12, taking his bitcoin balance from 55,000 coins to more than 96,000.

It's probably a hedge fund that has invested a small portion of their funds and doesn't understand that you shouldn't keep it all in one address because the blockchain is public and everyone can see what you've done.

well this could be the beginning of the info needed to raise the price of bitcoin and it seems there will be better news from this which is likely to trigger a bitcoin price increase, just wait for the time.

[jseverson]

Thanks! I wonder why this story suddenly blew up. Did people not realize it was an exchange wallet?

Well sites earn money from clicks, and saying someone loaded up on $400m worth of Bitcoins is much more attractive than saying some exchange is gathering coins to an address lol.

But yeah, someone buying that much would certainly have caused a sudden spike, and I haven't noticed any the past few days, so I thought something was wrong. This was either a bad journalist who doesn't do much research, or a good one who can mislead readers for their own agenda.

See my post where I noted he bought over 20.000 BTC in just 24 hours in that thread.

So this 100% sure isn't some 'exchange'. This is someone who actually purchased the coins because I saw it happening. But he did so in an extremely weird manner, not caring about millions of dollars (by only buying bitfinex and not other exchanges who were sometimes $600 lower already effectively giving away millions and millions of dollars). It's of course possible that it's a hedgefund. But it must then be a pretty stupid one. More likely, it seems to me, it's bitfinex with printed tether.

The address loaded up on Bitcoins between Feb. 9-12 though, and you posted your observations on Feb. 1,  so maybe you saw a different case? Can't really rule out any market manipulation whenever Tether is involved at this point lol.

[tee-rex]

well this could be the beginning of the info needed to raise the price of bitcoin and it seems there will be better news from this which is likely to trigger a bitcoin price increase, just wait for the time.

So they are just trying to start another massive panic buy. Okay then, let's wait and see how it all plays out. Personally, I think there will a lot of resistance on the way up from those who bought at December highs and didn't sell at January lows, lol. It will take many such buys to move the price beyond $20k. They should have brought the price to $1k first to get rid of bag holders and clear the path to bitcoin Heaven.

[sjefdeklerk]

The address loaded up on Bitcoins between Feb. 9-12 though, and you posted your observations on Feb. 1,  so maybe you saw a different case? Can't really rule out any market manipulation whenever Tether is involved at this point lol.

Obviously what you see in this guys wallet weren't trades. He was moving BTC from other wallets, most likely exchanges, to 1 single private wallet. So it DOES make sense that he bought the BTC shortly before.

[YuTü.Co.in]

well this could be the beginning of the info needed to raise the price of bitcoin and it seems there will be better news from this which is likely to trigger a bitcoin price increase, just wait for the time.

So they are just trying to start another massive panic buy. Okay then, let's wait and see how it all plays out. Personally, I think there will a lot of resistance on the way up from those who bought at December highs and didn't sell at January lows, lol. It will take many such buys to move the price beyond $20k. They should have brought the price to $1k first to get rid of bag holders and clear the path to bitcoin Heaven.

https://www.investopedia.com/contributors/54684/

Nathan Reiff is a writer and musician based in the New York City area. He holds degrees from Yale University and the University of Michigan. Nathan has previously worked for Orion Consultants and Partners in Performance and has written for Internet Brands on subjects ranging from money matters to personal and home development. His interests include technology, travel, and food.

Read more: Nathan Reiff Bio | Investopedia https://www.investopedia.com/contributors/54684/#ixzz57OLFvkYa
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https://www.reddit.com/r/CryptoCurrency/comments/7y5aa5/us_government_offers_bounty_for_tips_on_pumpdump/

Blow the whistle on pump-and-dump schemers.
Virtual currency and digital token pumpand-dump schemes continue because they are mostly anonymous.
If you have original information that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more, you could be eligible for a monetary award of between 10 percent and 30 percent.
For more information, or to submit a tip, visit the CFTC’s whistleblower.gov website.

Dear Whisteblowers guys,

I know this dude named Nathan who's pumping bitcoin with hopes perhaps of him dumping his holdings. Since the amount in question is well above the U$1M threshold, I'll settle for a monetary award of ONLY 5% plus a Reuben sandwich on marble rye with a spear of Aunt Bee's homemade pickles.

BTW, this whale was too easy to ID for me. That info, too, was submitted. Can't wait to get my Reuben sandwich. Yummy!

Huobi 100% knows who the dude(s) is/are since bitcoins were sent to them from said wallet address.

[pooya87]

regardless of the walletexplorer.com proof, whenever you purchase large amount of bitcoin you don't receive it in a transaction like this f60bb680d4b11a800fa72597dcd21eb803184f064bcf0bb7fb64c2d55d991c42 with 59 inputs and only 1 output any kind of purchase will always have a change address ie. 2 outputs.
additionally when you purchase from exchanges you can not withdraw 6000BTC at a time!
this behavior can only be coming from an exchange service which is moving funds from a lot of addresses to their multisignature cold storage.

p.s. this is what a whale looks like: https://btc.com/bc1q9sh6544xls87x7skjzyfhkty4wq7z76vn7qzq9

[mklost]

A very promising future

[pitiflin]

Yeah probably one of the guys who doesn't know much about bitcoin and buys just for the sake of it and forgets about it. I think he saw how people were going crazy about bitcoin and decided to spend some money on bitcoin and gift his kids that. This is why the society needs new wealthy elites so that they can use their money more wisely.

[Samarkand]

Yeah probably one of the guys who doesn't know much about bitcoin and buys just for the sake of it and forgets about it. ...

Have you actually read the posts above? This is not an actual buy of Bitcoins by a whale,
this is an address of the exchange Huobi that is moving funds from several addresses under
their control (probably to a cold storage wallet with higher security).

No whale would be able to buy that amount of BTC without a ton of slippage either.
400M $ of new capital would increase the BTC price tremendously due to the tiny
float of BTC on most exchanges.

[Jacques_Bittard]

"LOOK! Someone bought a lot of bitcoin, so there must be a reason to own bitcoin, please buy bitcoin!"

lul

[yonjitsu]

What a big amount of money invested on bitcon. If he bought it between Feb 9 and 12 which is 8,000$ plus, he's making millions of dollars already today even if bitcoin falls a bit to 10,000$.

[sjefdeklerk]

this is an address of the exchange Huobi that is moving funds from several addresses under
their control (probably to a cold storage wallet with higher security).

But where's the proof for that? One guy on this forum said "It's Huobi" without any proof at all and then people like you simply started repeating it. Where's the proof?

I saw a guy buying huge amounts of BTC on bitfinex, over 20k in just 1 day in the first week of february. So to me it would make sense if this huge buyer I saw was behind this account. And since he bought the coins in extremely non economic way, I still think it might be Bitfinex themselves with printed tether.

[BrewMaster]

this is an address of the exchange Huobi that is moving funds from several addresses under
their control (probably to a cold storage wallet with higher security).

But where's the proof for that? One guy on this forum said "It's Huobi" without any proof at all and then people like you simply started repeating it. Where's the proof?

the link to the "proof" that you repeated twice is already posted above by gentlemand literary in the first reply to this topic. did you bother to look at it?
do you even know what "blockchain analysis" means and what "walletexplorer.com" is doing?