Binance purchases the dip, adds more than 43K BTC units to the wallet

On Tuesday, one Binance address added 43,000 Bitcoin at an average price of $46,553.68, increasing the total value of the wallet to $5.5 billion. Bitcoin billionaires have been suggesting and continuing to accumulate during the dip. Bitcoin (BTC) was filling the $42 thousand December price wick this morning, and Bitcoin whales were actively stacking to take advantage of the decreasing value.

The third-largest Bitcoin address, which TheCoinRise reported had purchased the drop just two days prior, has maintained its spending spree, adding another 551 BTC since we last reported it had purchased the dip. The wallet has continued to aggressively accumulate around the $40 thousand level, accumulating a total of 121,396 BTC with a current worth of around $5 billion in its possession thus far.

Binance had confirmed the wallet ownership in 2019

A rumor spread on social media sites about the wallet owner behind the $43,000 BTC purchase; however, Binance confirmed ownership of the address in a tweet sent out in 2019.

Introducing: #Bitcoin-Pegged Token on #Binance Chain

Binance will issue a number of crypto-pegged tokens on Binance Chain in the coming days, starting with $BTCB, a BEP2 token pegged to $BTC.

Which other tokens would you like pegged on Binance chain?https://t.co/aohKP8cRhf

— Binance (@binance) June 17, 2019

BTCB, a BEP2 token pegged to Bitcoin, was the first of a series of crypto-pegged tokens to be issued on the Binance Chain, with the company intending to utilize the wallet address “3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb” for this purpose.

The wallet, on the other hand, seems to have grown into a cold storage wallet for the world’s largest crypto exchange. In a tweet sent out in April of last year by expert blockchain tracker @whale_alert, the wallet address was once again identified as the Binance BTC reserve wallet address.

It has been used to mint 13,001 BTC onto the Binance Smart Chain, yet its owner has never sold a single BTC unit. It has accumulated an incredible total of 116,601.13647202 BTC since June 17, 2019. According to the current market price, the wallet is worth around $4,982,770,577 (or slightly less than $5 billion).