10th Largest BTC Holder Makes Major Purchases
In 2024, a crypto enthusiast and the largest Bitcoin holder, Tether, made a significant purchase of 8,888.88 Bitcoin worth $379 million. As the cryptocurrency market experiences a bullish trend, the purchase was made at an average price of $42,640 per bitcoin. Experts like Michael Sylor, who owns 174,530 bitcoins, predict that Bitcoin could soon surpass its all-time high.
The purchase interest in Bitcoin is growing due to the upcoming Bitcoin ETF approval, which could potentially boost its price. VanEck adviser Gabor Gurbacs believes that the approval of the Bitcoin ETF benefits both Bitcoin and cryptocurrency itself.
(With inputs from Shikha Singh)
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