In recent months, this investor has strategically timed their Bitcoin transactions, leading to significant profits.
A recent post from Lookonchain, a blockchain analytics platform, shows that a savvy Bitcoin investor, often called “smart money,” has made another notable profit. Over the past few months, this investor has carefully timed their Bitcoin purchases and sales, resulting in substantial gains.
The smart money bought 225.5 $BTC($14.91M) again 7 hours ago!
He has bought 1,147 $BTC($76.8M) at an average price of $65,878 since July 17.
He has made a profit of more than $1.3M at the current price!https://t.co/JoTzpxbWi0 pic.twitter.com/qfb6SBTGnz
— Lookonchain (@lookonchain) July 26, 2024
According to Lookonchain, this trader added 225.5 BTC today, valued at about $14.91 million, to their holdings. Since July 17, they have bought a total of 1,147 BTC at an average price of $65,878, totaling $76.8 million. With the current Bitcoin price surge, this skilled trader has already made a profit of over $1.3 million.
Strategic Timing and Significant Gains
This investor stands out for their consistent ability to buy Bitcoin at low prices and sell at higher prices, maximizing returns. In the past year, they executed only two major trades but earned more than $30 million.
From August 9 to December 18, 2023, the investor bought 718 BTC at an average price of $29,385 and later sold at $41,953, making a $9 million profit. Their second notable trade was from February 7 to June 20, 2024, where they bought 1,181 BTC at $48,822 and sold at $66,792, earning an impressive $21.2 million.
Investors’ Confidence in Bitcoin’s Future
This investor’s latest activity shows their keen market insight and perfect timing, reinforcing their reputation in the crypto trading community. Their continued investment highlights a broader trend of unwavering confidence in Bitcoin’s future. As Bitcoin continues to attract investors worldwide, this smart money trader’s success story serves as both an inspiration and a benchmark for others in the volatile yet rewarding world of cryptocurrency trading.
Marathon Digital Holdings (MARA) has also shown strong confidence in Bitcoin’s future despite the current dip in Bitcoin’s price. The company, which now holds over 20,000 bitcoins, has acquired an additional $100 million worth of BTC.
Marathon’s optimistic outlook is clear in its decision to adopt a full HODL strategy, intending to buy more bitcoins and hold all of its mined bitcoins. Marathon has joined the list of companies with over 20,000 BTC, following MicroStrategy, the world’s first public company to own Bitcoin. MicroStrategy owns about 226,331 bitcoins, almost 1.1% of the total supply.
