Anonymous trader buys $400 million in bitcoin

[Hydrogen]

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.

[rodalutor]

I guess some of the beauty of Bitcoin is that we'll never know. It could be some well known public figure or some completely random guy that we do not know of and very few people do.

I have to think that most people what that amount of funds must have the means to make well informed decisions (just an assumption, could be wrong) and you don't get more informed than having insider information.

[Oceat]

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.

This one is a pure whales, that spending and trading a lot of Bitcoin in his wallet, i hope i am not wrong because most of the top addresses are exchanges owner. Now, he's on the top 3 list, here: https://99bitcoins.com/bitcoin-rich-list-top100/

[Tankdestroyer]

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 don't think it is Jamie Dimon accumulating Bitcoin. It should be someone more powerful and richer than him. If I were to make an assumption, I wouldn't be surprised that it could be Bill Gates buying Bitcoin after all he got a lot of money to spend and he have good eyes for investments and is the only one who won't regret risking that amount of money. At least that's what I think for now, I might be wrong but he is the only one who won't ever regret even if he lost that hefty sum.

[Lagoons]

That is so much money. Is it possible to know where the Bitcoin's came from. Was it from an existing wallet, perhaps mined years ago when it was easier. Or someone actually bought it with cash.

[camito]

I think this guy really believes in bitcoin. They say investment money you can afford to lose but I don't know if this $400 million is a "money he can afford to lose" if ever or it is such a huge money for him. Well I hope he'll get what he wanted from this lot of bitcoins. 

[Agaton]

This is what a kind of extraordinary happening in bitcoin business, the person that bought at a 400,000,000 U.S dollar is not actually a ordinary person, they know the exact future of bitcoin because they don't even fear their capital invested to encounter any risky thing that supposed to happen in the future, maybe that person is connected to bitcoin creator or one of the management position.

[Baofeng]

Probably anyone who has a lot of money to burn. I also doubt that its Jamie Dimon himself. It could be a person or group of persons joining their funds together to push the market today.

I'm not sure about insider trading though. Everything is based on speculation so I conclude that there's no one that will come some things ahead of time. He/She/They maybe trusted bitcoin so much that he/she/they put so much money in the ecosystem right now.

[shahani]

There are many kinds of bitcoin buyers, some people are only invest small amount of capital while other people invest large capital as they are capable and knowledgeable in bitcoin business already, that kind of person invest a $400 million capital is a long time bitcoin fan, and they have already gain before, and the money that they invested today are already a profit from different transactions that they made before.

[dunfida]

Probably anyone who has a lot of money to burn. I also doubt that its Jamie Dimon himself. It could be a person or group of persons joining their funds together to push the market today.

I'm not sure about insider trading though. Everything is based on speculation so I conclude that there's no one that will come some things ahead of time. He/She/They maybe trusted bitcoin so much that he/she/they put so much money in the ecosystem right now.

Trust would really be there yet putting up 400 million would really signify on how he do trust bitcoin itself.We wont know if its a pooled funds or just a pure investment of a single person but well no matter which one of those options the important thing here is that bitcoin is always capable on convincing people towards to its potential and the reason why people do still love to risk money on it.

[andika2018]

I think this whales are investment firm that want make profits in panic sell yesterday. Seller in a few week ago when market down must be regret with their transaction because bitcoin now rise.

[heraldlazaro25]

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.

That is a very serious investment. Investing a huge amount of money like that is very risky because no one knows if bitcoin will still increase its value in the future. But if that happens, maybe you will be one of the richest man in the world.

[Hazaki]

There ain't a person insane enough to do such a thing i guess , this is certainly some organization or company , or maybe multiple investors who are willing to make bitcoin rise in value in order to obtain whatever profit they can . What i'm sure of , that these people will certainly get at least 200% of their profit at least for doing such a ballsy move , and this doesn't only encourage people to invest in bitcoin in order to collect profits later on , but also means that people still believe in the OG of all coins , and the community will keep widening no matter the amount of FUD spread among the hodlers .

[jefbigbob70]

Perhaps it was done by some state or TNC. For them, this amount is not as significant as for an individual.

[eaLiTy]

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.

It is a huge investment and i really doubt how come he could acquire this much amount of coins and from which exchange,since i have not seen anyone selling this much amount of coins,did he actually purchased this much coins from big miners,with all the KYC rules and regulation i am sure that you are not able to invest this much money into any exchange just like that,either way my conclusion is that he did have some big connections to purchase this much coins.

[HabBear]

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."

Most won't interpret this as insider trading. Bitcoin isn't an organization (or centralized), therefore there's no privileged information to have to give someone an advantage in the markets. Even if developers were going to release some new plan to improve the speed of transactions they'd have to communicate the intent out to the world before they could implement it.

Having 'insider information' about Bitcoin is as ridiculous as having 'insider information' about gold.

Looks like this could represent the latest uptick in btc value.

Yeah, this kind of buying will definitely run the price up, especially over a time frame of just 3 days. But it's not this move only that's sustaining the recent price growth. There's a lot of buying going on because the smart money buys into the dips!

[hase0278]

It is a huge investment and i really doubt how come he could acquire this much amount of coins and from which exchange,since i have not seen anyone selling this much amount of coins,did he actually purchased this much coins from big miners,with all the KYC rules and regulation i am sure that you are not able to invest this much money into any exchange just like that,either way my conclusion is that he did have some big connections to purchase this much coins.

You are right and not just someone with big connections, he or she is someone who can easily slap the government of their country with money for their silence about this matter or someone powerful that have access even to the government, and it ain't Jamie Dimon IMO. Most probably he/she just bought that amount of coin via peer to peer after all, he cannot even buy that in any exchange.

[kimmali]

What a huge investment. He truly believes in the power of bitcoin. I haven't heard news before about users trading large amount of money. It is actually a good news since he helped in increasing the price of bitcoin,it brought a big benefit for us and for him. He's a smart investor since he bought bitcoin when the price is still low,he'll probably earn a large amount of profit once the price increases.

[andrey111]

A significant drop in bitcoin for many whale traders was just a holiday. At this time, they were significantly purchased, including the above mentioned trader, who bought bitcoin for $ 44 million. This trader currently has 96,000 coins. He came in 3rd in the top 100 richest bitcoin addresses.

[npredtorch]

It is for sure that this a collab and not just a single entity. Well, this might be good news if the purpose of the these people is to keep and hodl for a long time.
Lets hope that they don't dump it early so: 1. We could sell and cash out some btc for fiat 2. Buy low price altcoins