Mystery crypto tycoon with $6billion wallet buys Bitcoin worth $137million in ONE day

AN ANONYMOUS investor has just added more than $150million USD worth of cryptocurrency to their holdings.

The purchase was made by the third-largest holder of Bitcoin in the world, whose current total holdings are valued at around $6billion.

GettyAn anonymous investor purchased more than $150million USD worth of Bitcoin[/caption]

The mystery purchaser seems to have “bought the dip” as Bitcoin (BTC) prices dropped more than 20% over the weekend, according to BitInfoCharts – a blockchain monitoring service.

The purchase, which was split into different transactions that occurred over several days, amounted to more than 3,000 Bitcoins.

The hefty crypto wealth is currently held in a wallet that has been active since February 2019, when one Bitcoin was worth around $3,000.

The wallet made an initial purchase of 10,000 Bitcoins and has since accumulated more than 100,000 BTC, for an average price point of $21,160 per coin.

Though it’s difficult to concretely identify the owner of the wallet, some crypto market observers have speculated it’s either an individual or a large institution.

Some analysts have even considered the possibility of the wallet being linked to a large cryptocurrency exchange, however, one spectator disagreed.

“Transaction volume and pattern doesn’t seem to support this, very inconsistent from other cold wallets,” pseudonymous analyst VentureFounder wrote on Twitter.

“For one, many strategic buy the dip and sell the rally behaviors and clear long term accumulation trend.”

Bitcoin was valued at $57,300 before it crashed to ~$45,000 in under 24 hours last Friday.

It steadily climbed to $49,100 over the next few days, and as of Wednesday is valued at around $50,500.

Other cryptos including Ethereum, Cardano, and Dogecoin plummeted as well, draining the market of more than $300billion, for a total global loss of around $2.2trillion.

One reason that can be attributed to the markets taking a hit last week is the Federal Reserve’s Chair, Jerome Powell, announcing to the Senate Banking Committee that the central bank could start restricting its economic support.

Powell cited worries of inflation as an important reason for the Fed to stop pouring money into the markets, specifically government-backed securities.

Economic analysts also blame investors’ fear of the new Omicron variant for the crypto market’s latest episode.

GettyThe hefty crypto wallet is thought to belong to either an individual or large entity[/caption]

In other news, Google has taken action against a major hacking operation that it thinks has infected more than one million devices.

iPhone owners are being urged to change their settings in order to protect their texts from snoopers.

And Apple has announced that it will let customers fix their own iPhones for the first time starting next year.