[Coindesk](https://www.coindesk.com/business/2023/11/29/bitcoin-buyer-quietly-accumulates-424m-of-btc-in-three-weeks/?_gl=1*v9p86f*_up*MQ..*_ga*Mjk3MDgyNDE3LjE3MDEzODI4OTE.*_ga_VM3STRYVN8*MTcwMTM4Mjg5MC4xLjAuMTcwMTM4Mjg5MC4wLjAuMA..) reports that someone has been on a bitcoin-buying spree, buying 11,268 bitcoin (BTC) since November 10.  According to Bitinfocharts, 875 tokens were purchased on Thursday, making the unknown wallet owner the 74th largest holder of BTC. 

Most of the purchases were made at prices from $36,000 to $38,000. 

There are some speculations that the purchases are connected to the possible approval of spot bitcoin ETF applications. Its approval could mean a large demand for bitcoin, so it is expected that asset managers would want to have custody of large quantities on hand. 

The wallet owner is now the 74th largest BTC holder. 


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Thu Nov 30 2023 Coindesk: Mystery Bitcoin Buyer Amasses $424 Million of BTC in Less Than a Month

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Thu Nov 30 2023

Coindesk: Mystery Bitcoin Buyer Amasses $424 Million of BTC in Less Than a Month