Who bought 1,6 billion Bitcoins | The mystery that transformed the market

The world of cryptocurrencies is also interesting because, with transactions that are there for everyone, there is a lot to imagine, discuss and speculate. In the past few hours, the large order, worth more than $ 1,6 billion, has taken place directly on Bitcoin, in a strange movement for different combinations of factors.

Who made these purchases? Why did you choose such a special purchasing method (and unusual for purchases of this magnitude)? Who bought such a large sum of $ BTC and for what purpose?

A movement that triggered the bull run that we are still riding now - and that we could continue to operate with the worthy crypto-platform eToro (the most used) - go here to open your free virtual account with unlimited features - intermediary with the best analysis tools even in the short term and which also allows us to invest automatically.

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1,6 billion Bitcoin: all the elements of the mystery

There are several mysteries concerning this maxi-purchase, which alone last Wednesday he had created one on the market green candle enormous proportions, among others in less than 5 minutes.

A full-bodied purchase, which took place on cryptocurrency exchange what a second Counter would be more closely related to China - or rather, that they could continue to grant Chinese citizens access to the world of Bitcoin. But let's go in order, because of weirdness linked to this order, there are several.

No one buys so many Bitcoins at one time

When MicroStrategy buys Bitcoin - and let's take this company for example because it's the one that usually buys for those amounts (at least) - it doesn't do it all at once. It relies on scenario what do they do micro-purchases repeated over time. And he does it for a reason, which is to avoid it slip.

When we place an order for $ 1,6 billion, we will fill the Location current sales free and we will do it very quickly, before we get to the end of the order, the price may increase. Indeed, it is unlikely that there will be satisfaction for an order of this type at very similar price levels. And so each sell position filled moves us to the next, the last one being worth even more than the opening one. This is what happened to the mysterious buyer of 1,6 billion BTC equivalent. An operating mode very rare on the stairs.

That someone wanted to get rid of the many Tethers in the wallet?

Wednesday was also the day of another circulation of FUD related to Attached - the stablecoin on the material substances covering the working capital there are many who have doubts. This could have triggered, again from China, a unload stablecoin in favor of Bitcoin.

Very suggestive hypothesis, because it could have been a movement initiated with important information about Evergrande. Because it is precisely Evergrande one of the fundamental crossroads of the question: there are several to be feared that in the portfolio of Commercial papers declared by Attached there are stocks or debts of a company that is still on the verge of bankruptcy. However, this assumption must also be verified. And for now the elements to be sure are all missing.

What is true and what is not true

The link with China, as suggestive as it is, needs to be confirmed. And approximate analyzes of the exchange where the order would take place - again to be fully demonstrated.

And the hypothesis remains on the table that it was an institutional investor. Equally possible, if it were not that such a clumsy entry into the market is hard to expect from those who operate in the markets in a professional manner. Difficult to answer, at least for now. The point is that purchases of this magnitude are rarely observed - and the effects on the price of Bitcoin they can also be permanent, given that today, triggered by this purchase, the coin is confirmed above i 56 000 $.

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