![BASE HEADER institutions buy 1 billion btc.png](https://cdn.steemitimages.com/DQmY3DPrDFRd221a5YwYXBmAVewsZXJ2St5z6XHGfWcrnwC/BASE%20HEADER%20institutions%20buy%201%20billion%20btc.png)

This is perhaps the most bullish news I've come across all year: Five brand new Bitcoin wallets have accumulated almost $1 billion dollars worth of Bitcoin in the last month. There is very strong indication that these wallets belong to institutional investors who have done their purchasing through OTC trading desks. This kind of money does not enter the space on a whim.

https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png

Wall Street might not be coming, _they might already be here_

![wall street bull.jpg](https://cdn.steemitimages.com/DQmToSRh4YtCRvpnRtEn6KByqTdaXwondx4ezZNa7o8uLNc/wall%20street%20bull.jpg)

Everything is transparant and publicly visible on the blockchain (most of them, anyway) through block explorers and many people keep an eye open for any kind of inconsistencies or other notable things. [Torsten Hartmann, of Captainaltcoin.com](https://captainaltcoin.com/new-whales-are-here-somebody-bought-133k-bitcoins-in-the-last-4-weeks/), discovered something very interesting: **Five brand new Bitcoin wallets that have accumulated more than 133.000 BTC in the past month, which equals a value of about $861 million USD.** While the owner(s) of these wallets cannot be deduced due to the pseudonymity of the blockchain, the fact that these wallets contain transactions ranging from 10.000 BTC ($64 million USD) to 38.888 BTC ($248 million USD) indicates that at the very least these are _very_ wealthy entities because very few investors have the means to make such large purchases at once. What's most interesting is that despite there being apparant accumulation of almost 1 billion worth of Bitcoin, the price did not budge one bit. That gives us a strong indication that the BTC was purchased through OTC deals. The five Bitcoin wallets are: * **34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo** - 57.000 Bitcoin, roughly $366 million USD * **37AnGU6zY9esycd4qgTpAfB7BvU8z21TDf** or **3Kro2DNfYdkMTrzKkUS39DFa3aB3sAp3KQ** - 30.000 Bitcoin, roughly $192 million USD, of which 22.000 Bitcoin was since moved from the first address to the second * **3KeXRfyU9LZTV3qeN3AZFbKrpv3TSNkzo1** - 22.000 Bitcoin, roughly $140 million USD * **3Bo9FTs5Fx8tXoUKJZeDDFXbvpfNK18qQ1** - 15.000 Bitcoin, roughly 92 million USD * **3Ai5ocGhKdKT3tgCjarqH8auuVfpZwLgeC** - 11.000 Bitcoin, roughly 71 million USD It's worth noting that while some of the BTC can be traced to exchanges such as Bitfinex and Binance, this does not mean they were purchased on the regular open market. Large exchanges function regularly as a middleman for matching large buyers and sellers on the OTC market. Bitfinex has been doing this [since 2016 at least](https://www.bitfinex.com/posts/181). https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png

Why OTC?

Large investors face a problem with cryptocurrency. They may want to buy in, but with the amounts of money they want to spend they risk affecting the price during their purchasing process. Just dumping $100 million into Bitcoin will make it significantly spike up, and you'll end up paying more than you want. Similarly, dumping $100 million worth of Bitcoin will crash the price, therefore netting you less than you wanted. This is why OTC trading exists, where large buyers and sellers are matched together so they can trade outside of the open market, therefore not affecting the price. Past research by JP Morgan during the 2017 bull-run had deduced that since it's inception in 2009 [a mere $6 billion USD had been invested into Bitcoin](https://www.zerohedge.com/news/2017-12-02/jpmorgan-has-some-bad-news-bitcoin-bears) in order to make it's total market cap worth more than $300 billion USD. If that is true, then you might imagine the significance of an almost $1 billion dollar buy-in in today's markets, and why these were likely OTC trade deals. https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png

BTC remains stable - which is _odd_

An increasing number of analists and commentators are of the opinion that the Bitcoin price is being artificially surpressed and kept within a certain trading range in order for large players to accumulate. Despite an enormous amount of bullish news the price of Bitcoin has remained stagnant for months now, which is out of the ordinary for an asset that is known for it's volatility and responsiveness to news. The above Bitcoin wallets and transactions seem to strengthen these suspicions - by surpressing the Bitcoin price on the open market, large OTC orders benefit greatly because they are able to buy at current price levels. https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png

To the moon?

![nasa-rocket-launch-high-quality-6 rocket moon.jpg](https://cdn.steemitimages.com/DQmbEoJBQoNL5JcJ3yz87NFzbL2rKcDNPtqG4gNnfzpEi2R/nasa-rocket-launch-high-quality-6%20rocket%20moon.jpg)

The idea is that large institutions are buying in right now to stay ahead for what's to come next. Fidelity and Bakkt are launching very important platforms to service the financial giants of Wall Street with crypto, and it could very well mean that wealthy entitites are buying in ahead of these developments. The effects on the Bitcoin and crypto markets remain to be seen. The accumulation of the institutions could go both ways: They could buy in now, in order to open up the flood gates with Bakkt & Fidelity and others and start the biggest FOMO the world has ever seen, OR they could be accumulating in order to be able to massively crush the Bitcoin price through it's support levels (in order to buy even cheaper). While investing $1 billion and crashing the price so it becomes worth half of that seems like a silly idea, it makes a lot more sense when you consider that $1 billion might be _peanuts_ for entitites controlling hundreds if not thousands of billions. The cost may be worth it, if they can save 50% of their total purchase. You never know, and as I keep saying, these institutions are _not_ entering the space to me _us_ rich. The future prospects are _very_ bright though. Even if they intend to crash the price, which is extremely risky to begin with, in the long run it still means that they are buying into the ecosystem and are here to stay with crypto. If they want Bitcoin at half price, that's a great indicator that _they want Bitcoin_. And even with the risk of short-term loss due to potential manipulation, the long term prospects are _extremely_ good. https://cdn.steemitimages.com/DQmTdTogEsBP64wtTZD38triu4bHkmhUaGgnSNLYPLPwg34/dividerline%20cartooney3.png If you've been reading my blog for a while then you know I tend to be skeptical and one of the more cynical bulls out there. I've been calling for Bitcoin to drop below $5000 for many months now and continue to see it as a very likely scenario. However, this news has given me a _serious_ case of the FOMO and while I initially intended to start dollar-cost averaging in at a lower price, I have now decided I will stray from that plan and instead start buying some BTC starting tomorrow. Even if I consider another drop likely, I feel I just cannot risk missing the train if I am wrong. Instead, I will suck up any potential short/mid term drops and rest assured that 'Time _in_ the market matters more than _timing_ the market'. I'm going to follow the whales. You've read that right. Me, the cynical bull and short/mid term bear, is going out to buy new BTC. **Serious case of FOMO**. *How's that for an indicator?* **_I might be wrong, so don't follow me on this, and always do your own research and make up your own mind._**
The following video by Altcoin Daily talks about these wallets: [![footercartoon new5.png](https://cdn.steemitimages.com/DQmXtn3TPJY7iQiZjPJq1NLh9MbgsCpT9rN6xKJLnPUu619/footercartoon%20new5.png)](https://steemit.com/@pandorasbox)

_{_(Art by: Roy Lichtenstein)_}