Unknown Account Acquires $3 Billion in Bitcoins, Cryptocurrencies

The operation dates from last month, but it only recently came to the attention of the general public via social networks: an unknown investor acquired more than 130,000 bitcoins between July 18 and July 21, while the price of the token evolved to approximately 23,000 dollars, an investment equivalent to 3 billion dollars. Enough to put the address, which had no activity until the end of June, directly in third position among the largest accounts (“whales” or ” whales ” in English). The information was spotted by the Watcher News site, then relayed recently, in particular by the Internet user Romain Bailleul on Twitter.

However, it seems unlikely that the buying operation took place in such a short period of time, as it would have greatly influenced the market. As a reminder, we had discovered that Tesla had invested $1.5 billion in cryptocurrencies shortly after the start of the uptrend in late 2020 and early 2021, which suggests a significant effect on the price with this level of investment. .

The course turns green

The price of bitcoin jumped from $1,000 in the space of about 30 minutes yesterday to over $24,000, but that doesn’t seem to be related. The sudden rise seems more due to the announcement of the management giant BlackRock of the opening of a fund supposed to follow the price of bitcoin.

It could also be linked to expectations of US inflation, which turned out to be lower than expected, we learned shortly afterwards. In July, it rose to 8.5% over one year against 8.7% expected, but above all down from June (9.1%). If the correlation of the price with the evolution of consumer prices were confirmed, it would still be a sign of the ever greater weight of institutional investors, who act with bitcoin as with technology stocks.

The digital token is today holding above the symbolic bar crossed yesterday and is now approaching $25,000. He gains more than 7.5% over five days and even 24% over a month. Enough to give hope to the most fervent defenders of cryptocurrency the lasting return of a bull market… or to encourage them to be cautious in the face of what could also be a ” bull trap (upside trap).

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