The wealthiest non-exchange Bitcoin whale dives again into the cryptocurrency market. The address holds over 120,000 BTC valued at around 5.5 billion USD and has included another 3,241 Bitcoin, as the virtual coin floats slightly under its largest value within the last week.
Only two days ago, the whale had accumulated 3,241 BTC, closing the gap behind the e-wallets sustained by Bitfinex and Binance, the leaders in the overall global cryptocurrency exchange services sector by net worth.
The total worth of the recently amassed Bitcoin hovers a little above 145 million USD.
The Whale’s Recent Volatility
The past week’s amassing of thousands of BTC happened after several significant outflows. Over the last few weeks, the activities of the whale have been unstable, going on the same trajectory as Bitcoin prices.
Signals say that the whale’s address sold 3,000 BTC in the last ten days of March. Moreover, between the first five days in April, the address sold 4,500 Bitcoin, summing up the outflows to about $335 million in less than 21 days.
Commenting on the incident, a Glassnode analyst asserts that the first month in Q2 has often seen massive BTC buying globally, implying that the ma outflows in the market aren’t a surprise.
According to the analyst, history suggests that most whales and holders with less than one BTC often lead the trend.
Miami Mayor Unveils Bull Statue Named after Miami to Kick Off Bitcoin Conference
The Mayor of Miami yesterday unveiled the opening ceremonies of the ongoing 2022 Bitcoin conference. The mayor asserts that the 3,000-pound bull statute will welcome the over 30,000 individuals expected at the cryptocurrency conference later this year. According to the mayor, the statute’s unveiling marks a milestone in affirming the state as the “crypto capital of the world.”
Different stakeholders in the cryptocurrency world have expressed their pleasure with the new symbol. Changpeng Zhao, Bitcoin’s Chief Executive Officer, was one of the bull’s admirers, tagging the metal-framed statue as “pretty cool.”
Anthony Pompliano, the co-founder of Morgan Creek Digital, captioned the statue by saying the bulls were now in control. The conference will host five separate sessions, with the most attended session capable of hosting up to 15,000 attendees.
The conference kicked off with talks from notable CEOs in the crypto world like Pompliano, Mike Novogratz, and Dan Held. According to the conference organizers, the El-Salvadoran leader, Nayib Bukele, earlier scheduled to speak, pulled out of the event due to some unanticipated events.
The President’s withdrawal from this year’s conference is likely due to the ongoing crisis in El-Salvador. The crisis has led to the country imposing a state of emergency, placing specific civilian freedoms on hold, an action that has drawn concern from different human rights advocates.
During the Bitcoin 2021 conference, the El-Salvadoran president had declared his plans to enshrine BTC as a legal tender in the South American country. However, despite Bitcoin 2022’s bullish commencement, the markets have turned bearish, with BTC down by about 6% within the last week.
As of the time of this report, BTC sells for $43,338.50.
