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Author Topic: Anonymous trader buys $400 million in bitcoin  (Read 201 times)
jjdub7
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February 18, 2018, 07:40:56 AM
 #21

It's pointless to speculate with the name. Soon or a later it will be public anyway.
You can't buy $400 million worth of bitcoin and stay anonymous. He/she is anonymous for us, but not for all agencies and banks. Because you can't just move $400M without being noticed.

But it's good that such big capital is moved from fiat to crypto.

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February 18, 2018, 08:35:22 AM
 #22

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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. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned.

The price of bitcoin BTCUSD, +7.89%  has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.

“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.

https://ei.marketwatch.com/Multimedia/2018/02/16/Photos/NS/MW-GD955_bitcoi_20180216113501_NS.png

(Link to image: https://ei.marketwatch.com/Multimedia/2018/02/16/Photos/NS/MW-GD955_bitcoi_20180216113501_NS.png )

The transaction, which was blasted all over social media and online chat forums emboldened bulls who had argued that $6,000 was a bottom.

“In the meantime, the $400 million whale is fuel for the Telegram channels where traders lay out their conspiracy theories,” said Jeff Koyen, president of 360 Blockchain USA.

“However, I am willing to believe that, seeing bitcoin bottom around $6,000, Wall Street smelled blood and jumped back in,” he said.

With bitcoin back above $10,000, the owner of the address is closing is on the bitcoin billionaires club.

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

I think most will interpret this as insider trading: "someone with $400 million to burn and big connections to powerful and important people has insider knowledge about bitcoin's future and is calling a bull market." Looks like this could represent the latest uptick in btc value. No clue on who is buying in. With the way things have been going, I wouldn't be surprised if it were Jamie Dimon buying up all the BTC he could get his hands on.

I think this is only the first wave of rebound from the whales. If my analysis is correct this is opportunity that We should take a trader. There will be another two sets of whales to invest in bitcoin.
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February 18, 2018, 08:47:31 AM
 #23

I want to be that guy ...
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February 18, 2018, 11:29:31 AM
 #24

It is a big big wow coming from me. I was so amazed by this mysterious trader that has this kind of big amount and interest to put his money to this number one cryptocurrency in the world. But some part in my mind doesn't believe that this is only a one or two person, I suspect that this is an inside work as others already mention in this thread. A part from the strategy for bitcoin to make twenty thousand dollars every each until it will reach the maximum value. What a great for those who are hodling bitcoins big profit is waiting if this assumption is
true.
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February 18, 2018, 12:41:43 PM
 #25

It is a big big wow coming from me. I was so amazed by this mysterious trader that has this kind of big amount and interest to put his money to this number one cryptocurrency in the world. But some part in my mind doesn't believe that this is only a one or two person, I suspect that this is an inside work as others already mention in this thread. A part from the strategy for bitcoin to make twenty thousand dollars every each until it will reach the maximum value. What a great for those who are hodling bitcoins big profit is waiting if this assumption is
true.
Many stocks holder are shifting now in bitcoin, investors see more potentials in it that stocking it in actual investments i their country, we might see more whales grabbing this opportunity to buy more and invest in long term to earn huge amount when it pumps.

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February 18, 2018, 01:12:21 PM
 #26

The anonymous trader who buys bitcoin worth $400,000,000 is the sign of a good beginning in bitcoin business and to all cryptocurrencies, these worth of capital being invested can eliminate all negative issues and doubt about bitcoin business. But the question is, how long that certain person who bought $400 million holds their bitcoin? We better watch out for the next coming days.
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February 18, 2018, 01:33:43 PM
 #27

This wallet may have multiple owners. As we all know anyone can send bitcoin to a single wallet. And if it does, they might be something up very big in the future. Better be very careful than sorry in the future.

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February 18, 2018, 04:05:37 PM
 #28

The anonymous trader who buys bitcoin worth $400,000,000 is the sign of a good beginning in bitcoin business and to all cryptocurrencies, these worth of capital being invested can eliminate all negative issues and doubt about bitcoin business. But the question is, how long that certain person who bought $400 million holds their bitcoin? We better watch out for the next coming days.

That's surely one of big whales and see bitcoin as a good investment and stored asset that this will be huge for the upcoming years. No wonder bitcoin had already gathered tons of attention and some see this a big threat for economic stability that's why some countries had already banned it and some regulate the usage.
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February 19, 2018, 05:01:21 PM
 #29

Now bitcoin rate up
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February 19, 2018, 05:16:04 PM
Merited by richardsNY (1)
 #30

Quote
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. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned.

The price of bitcoin BTCUSD, +7.89%  has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.

“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.



(Link to image: https://ei.marketwatch.com/Multimedia/2018/02/16/Photos/NS/MW-GD955_bitcoi_20180216113501_NS.png )

The transaction, which was blasted all over social media and online chat forums emboldened bulls who had argued that $6,000 was a bottom.

“In the meantime, the $400 million whale is fuel for the Telegram channels where traders lay out their conspiracy theories,” said Jeff Koyen, president of 360 Blockchain USA.

“However, I am willing to believe that, seeing bitcoin bottom around $6,000, Wall Street smelled blood and jumped back in,” he said.

With bitcoin back above $10,000, the owner of the address is closing is on the bitcoin billionaires club.

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

I think most will interpret this as insider trading: "someone with $400 million to burn and big connections to powerful and important people has insider knowledge about bitcoin's future and is calling a bull market." Looks like this could represent the latest uptick in btc value. No clue on who is buying in. With the way things have been going, I wouldn't be surprised if it were Jamie Dimon buying up all the BTC he could get his hands on.

How does one have "insider information" on bitcoin? It's not a company, everything is open source. There is no trader who has access to nonpublic information because bitcoin isn't a centralized operation that makes public disclosures of information.

Further, how do we even know this is a trader? It seems far more likely that it's an exchange or some type of gambling house. Anyone who purchased that much Bitcoinat one time would move the price far more than any price move over the last week. These coins were more likely already controlled by this person and consolidated to one place for whatever reason.
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February 19, 2018, 05:25:05 PM
 #31

Funny to see those unproved claims just to cause some media attention.
You can't really know where those 400M$ worth of bitcoins came from, it could be his 2nd wallet that he just transferred from, it has nothing to do with buying 400M$ worth of bitcoins.
Only an exchange would be able to confirm that/mining company that will confirm those coins were sold at spot price, if there is not a proof, then I don't find it right to believe that he actually bought those coins.


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February 19, 2018, 05:32:49 PM
 #32

The market has gotten a new whale or it is being discussed with the aim of creating a panic atmosphere in the market, with stock exchanges or other people making this move with a new wallet address. The market for the next few days will be moving because of this incident, I think it is useful to be cautious and I would recommend.
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February 19, 2018, 06:03:16 PM
 #33

I think one of the billionaires in U.S or probably in China. If this was an corporation account then they can't easily sell their bitcoin because it's a joint account in just one btc address, one reason why people love blockchain is because it's very transparent.
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February 19, 2018, 06:42:50 PM
 #34

That's a whole lot of cash to splash around. Bitcoin is getting a very nice attention and so many are jumping in. But, who knows the person, could still be one of those who preach against Bitcoin but still owns a bagful of it. Another very beautiful part f Cryptocurrency, there is no way to get the actual owner, all we could bdonis guess and continue guessing.

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February 19, 2018, 06:52:34 PM
 #35

It's pointless to speculate with the name. Soon or a later it will be public anyway.
You can't buy $400 million worth of bitcoin and stay anonymous. He/she is anonymous for us, but not for all agencies and banks. Because you can't just move $400M without being noticed.

But it's good that such big capital is moved from fiat to crypto.

Maybe this person involved with Crypto since the beginning of Bitcoin, thus didn't put any fiat into it.
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February 19, 2018, 07:28:49 PM
 #36

I very much doubt that these funds belong to a trader or whatever entity that bought them. If I browse through the address and follow the addresses being part of the massive fund accumulation, it's safe to say that this with a high probability is an exchange. I just don't understand why people keep blindly posting that it's great news that whatever entity bought that many coins. If you just do a few minutes of research yourself, you'll see that the fund movements prior to their final destination address, are exactly how an exchange handles their internal fund structure. From there it actually boggles my mind that this has been subject to so much media attention.

Another scenario might be a very large casino, but I don't know if there are any casinos with that much capital available....
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February 19, 2018, 08:49:33 PM
 #37

I saw that transaction too. I wasn't sure if it was a buy or just someone moving some funds, maybe an exchange. But still 400 mil is a lot of money. But you still gotta love the small transaction fee it had.
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February 19, 2018, 09:09:12 PM
 #38

Quote
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. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned.

The price of bitcoin BTCUSD, +7.89%  has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington.

“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.



(Link to image: https://ei.marketwatch.com/Multimedia/2018/02/16/Photos/NS/MW-GD955_bitcoi_20180216113501_NS.png )

The transaction, which was blasted all over social media and online chat forums emboldened bulls who had argued that $6,000 was a bottom.

“In the meantime, the $400 million whale is fuel for the Telegram channels where traders lay out their conspiracy theories,” said Jeff Koyen, president of 360 Blockchain USA.

“However, I am willing to believe that, seeing bitcoin bottom around $6,000, Wall Street smelled blood and jumped back in,” he said.

With bitcoin back above $10,000, the owner of the address is closing is on the bitcoin billionaires club.

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

I think most will interpret this as insider trading: "someone with $400 million to burn and big connections to powerful and important people has insider knowledge about bitcoin's future and is calling a bull market." Looks like this could represent the latest uptick in btc value. No clue on who is buying in. With the way things have been going, I wouldn't be surprised if it were Jamie Dimon buying up all the BTC he could get his hands on.

Is this what they call whales? Buying big amount of bitcoin is a bit of a gamble yet this lone investor seems to be a tycoon in his business. Nobody see it coming until that $6k jump as quickly up to $10k. I hope there would be another jump to follow, or another person to buy that kind of amount .

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February 19, 2018, 09:29:26 PM
 #39

I think one of the billionaires in U.S or probably in China. If this was an corporation account then they can't easily sell their bitcoin because it's a joint account in just one btc address, one reason why people love blockchain is because it's very transparent.


No billionaire is going to put a billion dollars of their wealth into crypto. That's absurd. That amount of crypto can't even be accumulated this quickly, so it wasn't new purchases. It is probably an exchange or mining operation that already owned the coins and consolidated into one address for any number of reasons. Spend a little time on a blockchain explorer looking at where the funds came from for this address. It seems most likely this is an exchange or some type of gambling book based on the number of range of payments both in and out.
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February 19, 2018, 11:02:45 PM
 #40

If this is legit a news, surely the bitcoin value will be easily manipulated. This actually what makes the value volatile, the supply is not equally distributed and larger portion are actually in the small number of people. This scenario is causing more unstable price,  we really dint have control over it. Thisw who has bug money has the power to turn thing around. Just invest fund you just really afford to lose.
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