Bitcoin Whales Making a Splash in the Market
Bitcoin users with deep pockets are popping up on cryptocurrency markets.
Dubbed “whales” by the Bitcoin community, these users hold from five million to 500 million dollars worth of Bitcoin.
Last week one Bitcoin whale sold 215 million dollars of Bitcoin which caused the value of Bitcoin to drop about five hundred dollars in around 90 minutes. The same user then bought the same amount of Bitcoins back at the lower price pocketing a cool 10 million dollars.
Cryptocurrency expert Grant Colthup, CEO of Mine Digital, tells us what impact Bitcoin whales may have on the market.