DCA, or “Dollar cost averaging” strategy, which experts show as the healthiest investment style when buying Bitcoin, managed to make money again.
According to the information provided by the on-chain tracking platform Lookonchain, a whale that started making regular purchases as of July 2022 has today reached a profit of 900 million dollars.
As you may remember, the Terra LUNA collapse (May 2022) occurred at that time and Bitcoin dropped to 17 thousand dollars in June. The Terra LUNA crisis created a domino effect in the cryptocurrency markets and many crypto-credit companies, from 3AC to Celsius, from Volyager to BlockFi, went bankrupt.
He even bought it for 62 thousand dollars
A whale who wanted to take advantage of these declines started buying as of July (2022), when the price was at the level of 17 thousand dollars. The investor, who constantly bought Bitcoin from the level of 16 thousand dollars, where the price dropped during the FTX crisis, until the recent rises, bought again at the price of 62 thousand dollars yesterday, on February 29.
Bought 22 thousand BTC, still hasn’t sold
The whale, whose average price went down to 21 thousand 629 dollars, bought 22 thousand 670 BTC in total. The current value of these Bitcoins is around 1.39 billion dollars. Whale’s profit exceeded 900 million dollars. And this person or institution still has not made any sales.
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Source: https://uzmancoin.com/bitcoin-balina-realize-dca-maliyet/
