Bitcoin Value Boost: Whale Investors Are Scooping Up BTC In Huge Amounts

Bitcoin’s value is on the rise, and the whole crypto market looks great today with the digital assets trading in the green.

At the moment of writing this article, BTC is also trading in the green, and the king coin is priced at $11,382.11.

Whales scoop up BTC

It’s been revealed that whales are scooping up Bitcoin is massive amounts, and this is a great sign for the future value of the king coin, according to crypto strategist Willy Woo.

Woo addresses Square’s recent purchase of 4,709 BTC and also MicroStrategy’s 38,250 BTC Investment.

He highlighted that much of the newly purchased BTC will land in the hands of whales, and this is a bullish development.


He continued and said: “The market is not “woke” because price action is a very laggy indicator of fundamental demand and supply. Mania phases of a bull market is when everyone is “woke” and it’s too late. Right now, supply is being hoovered up.”

BitMEX charges could turn out positive for BTC

Unlike a lot of other analysts, Woo also said that the latest BitMEX charges could turn out beneficial for BTC.

He said that the charges could be good for the crypto industry in the long run.

Not too long ago, U.S. Commodity Futures Trading Commission (CFTC) announced that “it is charging five BitMEX operating entities and the crypto trading platform’s three founders, Arthur Hayes, Benjamin Delo, and Samuel Reed, with violating multiple CFTC regulations.”


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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