The growth of the bitcoin cryptocurrency helped the investor to increase his profits by $ 217 million

The flagship cryptocurrency continues to attract the attention of investors with a significant increase in value. Recently, the cryptocurrency market witnessed an extraordinary event: a major bitcoin whale, who owned a staggering 8,500 BTC, increased his profits by millions of dollars when the price of BTC $56,314.34 Bitcoin -1.66% Market capitalization $1.11 trillion VOL. 24 hours $2.81 billion increased.

According to Lookonchain, an online analytical platform, the investor managed to earn $ 217 million in BTC when the asset’s value rose to $ 73,000. According to the information provided, as of August 24, 2023, the whale owned 8,500 BTC. When the price of bitcoin rose, the whale deposited or sold 4,300 BTC worth $ 183 million on Binance at an average price of $ 43,534. The investor did the same with 100 BTC worth $ 7.22 million to make a profit.

Currently, the whale owns 4,300 BTC, which at the current rate is $ 313 million, and his total profit is $ 217 million. It is currently unknown whether the user will withdraw his funds or expect further growth.

Cryptocurrency analysts note: on March 12, the flagship cryptocurrency jumped to $ 73,000 per coin in a moment. However, later there was a pullback to $ 71,000. In just the last 30 days, bitcoin has risen in price by more than 50%, and its capitalization has exceeded $ 1.38 trillion. The cryptocurrency market as a whole also continues to grow rapidly.

As a reminder, an unknown member of the crypto community who invested in the Wolf Wif (BALLZ) memecoin turned $ 4 into more than $ 60,000 in a few hours. Lookinchain subscribers are convinced that either the Wolf Wif developers themselves or insiders are behind the transactions. There is a version according to which the BALLZ pump was organized by fraudsters.