The big whale wants more.....

I just heard a story about how the big whale is holding up their Bitcoin. While bitcoin trading is associated with extreme privacy and no one can easily get the buyer's real information, each trade of bitcoin is openly visible by everyone as all transactions are public information on the chain. With that, we can easily see any big money's moves into or out of bitcoin. Here is the interesting story for one big money account. Back in 2018, one bitcoin account bought 8000 bitcoins worth about $28 millions at that time. Since then, this account has not done anything with the bitcoin holding. At the recent peak of over $60K for bitcoin, the account was worth over $500 million, nearly 20 times the initial investment.  But nothing has happened still as the account still holds 8000 bitcoins. In the past few weeks, bitcoin is experiencing a severe correction, cutting by half in its price. The Whale still did not do anything when bitcoin dropped below $30K recently. However, something interesting has just occurred in the past few days: it was found that this account suddenly has increased over a billion of dollars worth of bitcoin! What does all this mean? Well, this big Whale has no fear whatsoever about the recent bitcoin "crash". Instead it apparently believes right now is a good time to buy more aggressively into bitcoin again. 

This is of course a very bullish case I'd like to share, although by no means I suggest bitcoin has necessarily hit its absolute bottom for this correction. I'm confident it is at its bottom area but I certainly don't know if the lowest point has already been passed for bitcoin. 

Let me share another extremely bullish trend for bitcoin: State-sponsored pensions funds are beginning to get exposure to cryptos. For example, New Jersey's state-managed pension fund is buying digital mining stocks! New Jersey's pension fund supports about 800,000 different government employees' retirement plans. Its Common Pension Fund D has $30 billion in total assets for state employees. According to the fund's SEC Form 13F filing, the fund has nearly a quarter of the fund (over $7 million) invested in crypto stocks. More specifically, at the end of June, the fund had $3.66 million in Riot Blockchain (RIOT) and $3.39 million in Marathon Digital Holdings (MARA).

Of course, New Jersey isn't the only state that's adding crypto stocks to their pension fund. California's pension fund has also been investing heavily in RIOT. 

We all know, nearly all the pension funds are deeply in trouble in terms of lack of sufficient money for ongoing and future obligations. I have long believed that it would be a smart move for any pension funds to invest just a small proportion of their fund in crypto assets, which may totally change their financial status in the long run. Well it appears I'm not the only one thinking about that way. Even the very conservative State-pension funds are starting to do so, which is indeed a very smart vision. I don't know what those "smart" financial experts/gurus out there, who have constantly call the death of Bitcoin, would think about this megatrend!😇