$280 Million Bitcoin Whale Buys Tens of Millions of Dollars as Price Dips

A large Bitcoin whale has made a multi-million dollar purchase of Bitcoin after the price of the cryptocurrency dipped this week.

According to a Lookonchain transaction, the whale bought 620 Bitcoin worth $39.8 million after the price of Bitcoin began to decline.

Bitcoin briefly fell below $64,000 on Wednesday evening and continued to decline until yesterday, according to CoinGecko data. BTC is currently trading at just above $64,500.

Transaction records show that the same whale has been actively buying for over a month. Since March 21, the whale has purchased a total of 4,380 Bitcoin worth $282.38 million from the Binance exchange. The whale’s average cost per coin was $64,471.