Whale sits on $900 million profit from holding Bitcoin

While Bitcoin continues to make its investors smile sooner or later, a whale account was rewarded for its purchases and regular investments during the declines in 2022 with a profit of 900 million dollars. It is also noteworthy that the whale still has not realized its profit.

Whale sits on $900 million profit from holding Bitcoin

The DCA, or “dollar cost averaging” strategy, which experts point to as the healthiest investment style when buying Bitcoin, was again a winner.

According to information provided by on-chain tracking platform Lookonchain, a whale that started purchasing regularly since July 2022 has reached a profit of $900 million today.

As it will be remembered, the Terra LUNA crash (May 2022) took place at that time and Bitcoin dropped to $17,000 in June. The Terra LUNA crisis had a domino effect on cryptocurrency markets and many crypto-credit companies from 3AC to Celsius, Volyager to BlockFi went bankrupt.

Even purchased Bitcoin at $60,000

A whale who wanted to take advantage of these declines also started buying from July (2022), when the price was at $17,000. The investor, who continuously purchased Bitcoin from the $16,000 level, where the price declined during the FTX crisis, until the recent rises, also made another purchase at a price of $62,000 yesterday, February 29.

He hasn’t sold any Bitcoin yet

The whale, whose average price dropped to $21,629, purchased a total of 22,670 BTC. The current value of these Bitcoins is around $1.39 billion. The whale’s profit surpassed $900 million. And the investor or organization still has not made a single sale.

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