Binance buys the dip adding over 43K Bitcoin to wallet

Bitcoin billionaires proceed to accumulate during the dip. As Bitcoin (BTC) filled the $42 1000 December terms wick this morning, Bitcoin whales were engaged stacking sats.

One code belonging to Binance added 43,000 BTC connected Tuesday astatine an mean terms of $46,553.68, bringing the wallet's full worth to $5.5 billion.

Elsewhere, the third-largest Bitcoin address continued its spending spree, adding different 551 BTC since Cointelegraph past reported it bought the dip, conscionable 2 days ago. The wallet continues to aggressively accumulate successful the $40 1000 range, present owning a full of 121,396 BTC oregon astir $5 billion.

There was immoderate consternation connected societal media platforms astir the wallet proprietor down the $43,000 BTC buy, but Binance confirmed ownership of the code successful a tweet sent retired successful 2019.

— Binance (@binance) June 17, 2019

Related: Bitcoin Twitter flips bearish, assemblage responds

The intended usage of wallet code "3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb" was for the institution to issue a fig of crypto-pegged tokens connected Binance Chain, starting with BTCB, a BEP2 token pegged to BTC.

However, the wallet appears to person evolved into a acold retention wallet for the world’s largest cryptocurrency exchange. In a tweet by precocious blockchain tracker @whale_alert successful April past year, the wallet was again labeled arsenic the Binance BTC reserve wallet address.

Although the wallet has been used to mint 13,001 BTC onto the Binance Smart Chain, the proprietor has ne'er sold a azygous Satoshi. Since June 17, 2019, it has accumulated a whopping 116,601.13647202 BTC.

At the clip of writing, the wallet is valued astatine astir $4,982,770,577 oregon conscionable shy of $5 billion. Talk astir diamond hands.