10th Largest Bitcoin Holder Makes Major Purchases for $379 Million

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The year 2024 starts with the most interesting investment as one of the crypto enthusiasts and the largest Bitcoin holder surprises today with the significant purchase of 8,888.88 Bitcoin worth $379 million.

Details of Purchase

The purchase, made at an average price of $42,640 per bitcoin,  comes when the cryptocurrency market is experiencing a bullish trend. Bitcoin’s price has been on the rise in recent weeks, with many experts like Michael Sylor, who owns 174,530 Bitcoins,  predicting that it could soon surpass its all-time high in the history of Bitcoin. The purchase interest in Bitcoin is growing and it might be because of several reasons Bitcoin ETF approval is on the horizon and once it gets approved, the price of the Bitcoin will rise to the sky.

Mysterious Buyer

The identity of the buyer remains a mystery but based on its gigantic purchase, it is definitely can be assumed that it could be any major institutional investor or a wealthy individual looking to diversify their portfolio. Now, regardless of who it is, the purchase is a clear sign that the demand for Bitcoin is growing even at its highest prices.

In 2024, Bitcoin will definitely continue to gain mainstream acceptance by the industry. It’s likely and expected that we’ll see more large-scale purchases like this in the future.