Unknown Investor Buys a Billion Dollars Worth of Bitcoin
An unknown individual or entity bought 96,000 bitcoins, currently worth more than one billion dollars, during the recent crash which sent bitcoin’s price to what now appears to be a bottom of around $5,000.
Andy Hoffman, a vocal bitcoin supporter who describes himself as a crypto consultant, publicly stated to his twitter followers:
“Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased $344 million worth at an average of $8,400 from 2/09/18 through 02/12/18 – then, doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth around $900,000,000 at today’s price ($9,400).”
https://www.trustnodes.com/2018/02/19/unknown-investor-buys-billion-dollars-worth-bitcoin
Thats shocking!
I am still somewhat new to the world of crypto, but the question that comes to mind here is how one could convert that much fiat to Bitcoin in such a short period of time. As much hassle as banks seem to give over any transaction that is minuscule to this, if it was an actual purchase it would only seem possible to a banker or one who has the extreme favor of the banks. If I had to hazard a guess, this move was executed by the banks or one of their government pawns.