2023-12-05

🐳 Ether Whale's $90M Move!

December 05, 2023

Howdy Folks,Fun Fact: Bitcoin is up 160% since the bear market bottom...nice!!

Let's take the plunge!

💸 Bukele's Bitcoin Triumph
💰 BTC Boosts Tether's Profits
💼 Possible $90M ETH Sale?

🚀 El Salvador's Bitcoin Gamble Wins

In a turn of events worthy of a finance thriller, El Salvador's foray into Bitcoin, led by Nayib Bukele, has defied critics and turned profitable.

Bukele announced on X that the nation's Bitcoin investments are now in the black, contradicting numerous skeptical assessments. 🌍📈Handy, given he has temporarily stepped down to prepare for reelection!

El Salvador, often in the crosshairs of international media skepticism for its Bitcoin strategy, faced relentless scrutiny over the venture's wisdom.Armed with Bitcoin's fluctuating market prices, critics quickly highlighted the country's supposed losses. 📉👀

Yet, Bukele's latest post flips the script. He claims that selling El Salvador's Bitcoin holdings now would recoup the initial investment and rake in a profit of $3,620,277.13.Fortune may favor the brave but only with a large slice of luck! (Not financial advice, folks!)Bukele insists that cashing in isn't on the agenda despite this financial upside. The country's Bitcoin journey is a long-term play, not swayed by current market swings. 💰🔮

Bukele's stance remains unshaken by Bitcoin's inherent volatility. He challenges journalists to report this success with the same vigor they showed for the losses, urging retractions or acknowledgments of El Salvador's profitable position. 🌐📊🚨

📈 Tether Scores $1 Billion with Bitcoin

Tether, the creator of the USDT stablecoin, has seen its Bitcoin investments soar, reaping over $1.1 billion in profits.

The recent Bitcoin price surge, crossing the $42,000 mark, has played a major role in this 85%+ profit leap for Tether's BTC holdings. 🚀🌍

In a recent X post, crypto journalist Colin Wu highlighted Tether's impressive stash of 57,576 Bitcoins, now valued at $2.4 billion, acquired at an average of $22,480 each. 🐉💻Savvy move!

This significant gain stems from Tether's strategy to purchase Bitcoin using a part of its net profits. Since May 2023, the company has been dedicating 15% of its net profits to expand its Bitcoin portfolio. 📊💹

Tether's Q1 2023 Assurance Report revealed a BTC holding worth approximately $1.5 billion, part of a strategy to diversify and fortify its reserves.CTO Paolo Ardoino cited Bitcoin's decentralized nature, scarcity, and growing global acceptance as reasons for choosing it as an investment asset. 🌐🔒

Ardoino believes that with its resilience and potential, Bitcoin not only boosts Tether's portfolio but also aligns the company with a technology capable of revolutionizing business and lifestyle.Putting their money where their mouth (and wallet) is!Tether's strategic Bitcoin investment has undoubtedly paid off. 📈🌟🏦

📉 Early Ether Whale Moves to Kraken

In a move that's stirring the crypto waters, an early Ether investor, dormant for five years, has transferred nearly $90 million worth of Ether (ETH) to the crypto exchange Kraken.

This action, reported by the on-chain analytics tool Lookonchain, suggests a potential sale or exchange of the asset. 🐳💱

The investor moved 39,260 ETH to Kraken during Asian morning hours. This stash was part of a larger 47,260 ETH haul received in one 2017 transaction, valued at over $11 million then. 🕒💰(Yes, that's worth over $100 million now!)

Transaction analysis indicates that these funds were not previously stored in any exchange's cold storage. 🕵️‍♂️🔍

Shifting such a large amount of Ether to an exchange often signals intent to sell for stablecoins or other tokens, potentially increasing market selling pressure.Not the time to sell yet!!, they may be up but not as up as they will be in a few months!With Kraken's market depth for ETH trading pairs exceeding $5 million, a transaction of this magnitude could sway the market by at least 2%. 📊🔄