Connect with us

Bitcoin

An anonymous capitalist has purchased $344 million worth Bitcoins

Rohit Singh

Published

on

Bitcoin id going nowhere
Source: MaxPixel

An anonymous capitalist has purchased $344 million in Bitcoin when the price was low and pocketed 96,650 BTC. The purchase was made between 9th Feb and 12th Feb with the Bitcoin address “3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64.”

Alex Sunnarborg, one of the hedge promoters of Hedge fund Tetras Capital, says,

“The investor is one of many that have chosen to invest in virtual currencies during a period of free falling prices in the hope they rise again”

He also added,

“Not sure who the massive purchaser was, however, several have bought Bitcoin since the dip and have made additional profits since the rebound and extra regulative clarity within America and Asia, we will see another bull rally from Bitcoin.”

Bitcoin has even made a small recovery last week after the catastrophic 70% decline since December last year. At present, it is valued at $11137.90 with $2342.85 additional to the virtual currency’s worth and increasing by nearly 26% since the past week.

Andy Hoffman, the operator of a cryptocurrency consultation firm, declared that the present worth of 96,650 BTC is One Billion dollars approx at the current market rates.

He even tweeted saying,

“Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased $344 million worth at an average of $8,400 (£5980.55) from 2/09/18 through 02/12/18 – then, doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth around $900,000,000 at today’s price ($9,400).”

On December 17, Bitcoin hit an all-time high of $19,535.70 before sharply declining. A brief revival of the cryptocurrency markets occurred on 6th Jan when Bitcoin recovered to $17,035.60 but soon after which it had a dramatic free fall down to under $6000.

source: www.coinmarketcap.com

Hoffman operator at CryptoGoldCentral continues,



“If you are in a low-cost electricity jurisdiction, with land and access to the grid, you are sitting on a monetizable digital gold mine.”

David Silva Smith‏, an entrepreneur and an angel investor says, 

“There will never be another digital gold.”

Meanwhile, Bitcoin Cash, Ethereum and Litecoin have all seen an increase in price in the last week giving investors a huge sigh of relief. Analysts also commented on the possibility of this anonymous investor’s recent investment being the possible spark which ignited the current short-term bull run to $11K.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Rohit Singh is a contributing News writer at AMBCrypto. He is a Commerce graduate and CA finalist with a peerless passion for Blockchain and cryptocurrency related stories. Rohit currently does not hold any value in any cryptocurrency or its projects.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content

Priya

Published

on

By

Bitcoin [BTC]: 60 Minutes segment airs on CBS; market relieved over no FUD content
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency in the world has gained a lot of mainstream media attention over the years. However, most media houses have often failed to deliver the message to the masses, with the main reason being lack of research and knowledge of the subject. The cryptocurrency was thrown back into the spotlight after CBS released a teaser to their latest “60 Minutes” episode, unveiling a few influencers of the industry, speaking about their experience.

The episode, which released on 19 May 2019, immediately grabbed the attention of the cryptocurrency space, with a majority wondering whether the media channel would nail it or fail it. Interestingly, there was a poll conducted on Bitcoin Talk, where the question was ‘CBS 60 Minutes 5/19/19 on Bitcoin. Will it cause FOMO or FUD?’

Source: Bitcoin Talk

Source: Bitcoin Talk

60 Minutes, broadcast on the CBS Network is one of the oldest and most-watched American television programs, with the focus being “the real story on America’s most prevalent issues”. According to CBS, 60 Minutes has an average of 11.4 million viewers and about a million people who listen to its radio broadcast and podcast.

The show titled ‘Bitcoin’s Wild Ride’ aired hours ago, and covered the story of Charlie Shrem, the founder of BitInstant, Laszlo Hanyecz, the famous pizza guy who is recognized as the first person to make a real-world transaction with Bitcoin, and Marco Streng, the CEO of Genesis Mining. The segment also had Neha Narula, the Director of Digital Currency Initiative at MIT Media Lab, answering questions pertaining to the coin, and Lael Brainard, a member of the US Federal Reserve, speaking about why not Bitcoin.

The show was briefly explained by a Redditor, EternitySphere,

Source: Reddit

Source: Reddit

Unlike other mainstream Bitcoin segments, this segment was well-received by the Bitcoin community after a majority agreed that it did not spread FUD and that it was an unbiased episode, contrary to expectations. However, there were few concerns pertaining to a lack of content, with some believing that it failed to explain key information; which includes how it derives it value, albeit there was no FUD.



Franky1 commented on Bitcoin Talk,

“[…] next was the whole describing mining segment involving genesis mining.(facepalm) ASIC’s do not store records(asics have no hard drive).. so saying the mining done by genesis is the location where records are kept can be misguiding people to think genesis mining are ‘the bank’ and user software just ‘watches the numbers and letters'[…]”

Source: Reddit

Source: Reddit

Rdbase also remarked on the Bitcoin forum,

“The whole segment was about charlie shrem known as bitcoin moses and his fall into bad luck with taking a payment which was used to buy illegal things on the dark web. It did have some good points but overall it was just directed towards the public view about it. As a skeptical thing to use and banks were safer with its fiat financial system”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending