The year 2024 begins with the most interesting investment as one of the crypto enthusiasts and largest Bitcoin holders surprises today with the significant purchase of 8,888.88 Bitcoin worth $379 million.
Details of the purchase
The purchase comes at an average price of $42,640 per Bitcoin and comes at a time when the cryptocurrency market is experiencing an uptrend. The price of Bitcoin has been rising in recent weeks, and many experts such as Michael Sylor, who owns 174,530 Bitcoins, predict that it could soon surpass its all-time high in Bitcoin's history. Buying interest in Bitcoin is growing and this could be for several reasons why the approval of a Bitcoin ETF is on the horizon and once approved, the price of Bitcoin will skyrocket.
According to VanEck advisor Gabor Gurbacs, the approval of the Bitcoin ETF doesn't just benefit Bitcoin; it also proves to be just as profitable for the cryptocurrency itself. A recent post from VanEck advisor Gabor Gurbacs on X (Twitter) explaining the impact and implications of the Bitcoin ETF.
Tether is leading the race
According to BitInfoCharts, the unknown buyer is Tether, which withdrew 8888.88 BTC from the Bitfinex platform today. With this significant purchase, Bitfinex becomes the 10th largest Bitcoin holder. Tether now holds a total of 66465.2 BTC ($2.82 billion), with a cost price of $25,176 and a profit of $1.148 billion (+68%).
In 2024, Bitcoin will definitely continue to gain acceptance in the industry. It is likely and to be expected that there will be more large purchases of this type in the future.
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