Binance buys the dip adding over 43K Bitcoin to wallet

Bitcoin
billionaires
continue
to
accumulate
during
the
dip.
As
Bitcoin
(BTC)
filled
the

$42
thousand
December
price
wick
this
morning,

Bitcoin
whales
were
busy
stacking
sats.

One
address

belonging

to
Binance
added
43,000
BTC
on
Tuesday
at
an
average
price
of
$46,553.68,
bringing
the
wallet’s
total
value
to
$5.5
billion.

Elsewhere,
the
third-largest
Bitcoin address continued
its
spending
spree,

adding

another
551
BTC
since

Cointelegraph
last
reported
it
bought
the
dip,

just
two
days
ago.
The
wallet
continues
to
aggressively
accumulate
in
the
$40
thousand
range,
now
owning
a
total
of
121,396
BTC
or
roughly
$5
billion.

There
was
some
consternation
on
social
media
platforms
about
the
wallet
owner
behind
the
$43,000
BTC
buy,
but
Binance

confirmed

ownership
of
the
address
in
a
tweet
sent
out
in
2019.



Related: Bitcoin
Twitter
flips
bearish,
community
responds

The
intended
use
of
wallet
address
“3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb”
was
for
the
company
to

issue

a
number
of
crypto-pegged
tokens
on
Binance
Chain,
starting
with
BTCB,
a
BEP2
token
pegged
to
BTC.

However,
the
wallet
appears
to
have

evolved

into
a
cold
storage
wallet
for
the
world’s
largest
cryptocurrency
exchange.
In
a
tweet
by
advanced
blockchain
tracker
@whale_alert
in
April
last
year,
the
wallet
was
again

labeled

as
the
Binance
BTC
reserve
wallet
address.

Although
the
wallet
has
been

used

to

mint

13,001
BTC
onto
the
Binance
Smart
Chain,
the
owner
has
never
sold
a
single
Satoshi.
Since
June
17,
2019,
it
has
accumulated
a
whopping
116,601.13647202
BTC.

At
the
time
of
writing,
the
wallet
is
valued
at
roughly
$4,982,770,577
or
just
shy
of
$5
billion.
Talk
about
diamond
hands.

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