While the cryptocurrency market continue to crash this week, Bitcoin whales didn’t hold back from buying the dip.

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Data from Bitinfocharts reveals that the third-largest Bitcoin address took full advantage of Bitcoin’s current price volatility after it purchased 551 BTC on Tuesday. To date, the whale holds 120,845.57 BTC, which is worth over $5.6 billion.

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An address belonging to Binance also bought 43,000 BTC on the same day at an average price of $46,553.68, bringing the wallet's total value to a total of 121,396 BTC or around $5.5 billion.

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Some users on social media questioned if Binance really owned the wallet, but back in 2019, the exchange confirmed ownership of the address.

Binance @binance

For $BTCB, the $BTC reserve address is: 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb We have just reserved 9001 BTC and minted 9001 BTCB. explorer.binance.org/asset/BTCB-1DE A trading pair on #Binance .com for BTCB/BTC will follow in a day or so, and we will issue a proposal on @Binance_DEXDex ExplorerBinance Dex Explorerexplorer.binance.org

June 17th 2019

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