A Binance whale wallet added 43,000 Bitcoins to its reserves while Bitcoin’s third largest wallet continued to buy the dip.
Billionaire bitcoin continues to accumulate during price drops. A Binance address added 43,000 BTC on Tuesday for an average price of $46,553.68, bringing the total value of the wallet to $5.5 billion.
In addition, the third largest Bitcoin address continues to spend heavily, more 551 more BTC. The wallet continues to accumulate aggressively in the $40k range, now holding a total of 121,396 BTC or around $5 billion.
On social media platforms there is much speculation about the wallet owner who bought 43,000 BTC, but Binance confirmed ownership of this address in a tweet in 2019.
We have just reserved 9001 BTC and minted 9001 BTCB. https://t.co/344lxlqsMa
A trading pair on #Binance .com for BTCB/BTC will follow in a day or so, and we will issue a proposal on @Binance_DEX
– Binance (@binance) June 17, 2019
The purpose of using the wallet address “3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb” is for the company release some tokens on Binance Chain, Bep2.
However, the wallet seems to have develop into a cold storage wallet for the Binance exchange. Advanced blockchain tracker @whale_alert already label it here is the address of the Binance BTC reserve wallet.
Although the wallet has been use to casting 13,001 BTC into Binance Smart Chain, the owner has never sold a single Satoshi. Since June 17, 2019, it has accumulated a whopping 116,601.13647202 BTC.
At the time of writing, the wallet is valued at around $4,982,770,577 or close to $5 billion.