Bitcoin BUYOUT: Mysterious investor buys $344million BitcoinBitcoin BUYOUT: Mysterious investor buys $344million Bitcoin during cryptocurrency slump A MYSTERIOUS investor has purchased $344million (244million) worth of Bitcoin during a period of slumping cryptocurrency prices that gave them a total of 96,650 BTC in their virtual wallet, it has emerged. By Joseph Carey PUBLISHED: 01:29, Mon, Feb 19, 2018 | UPDATED: 07:09, Mon, Feb 19, 2018 Bitcoin: Expert says world is ready for new kind of currency A founding partner of hedge fund Tetras Capital, Alex Sunnarborg, stated that the investor is one of many that have chosen to invest in virtual currencies during a period of free falling prices in the hope they rise again. He explained: "Not sure who that big buyer was, but many have bought this dip and have added since the rebound and additional regulatory clarity in the US and Asia. The purchase was made between February 9 and February 12 and was given the Bitcoin address of 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64. When the address is entered into a blockchain, a ledger for cryptocurrency transactions, it states that the investors final balance after the astonishing purchase was 96,650 Bitcoin. BitcoinGetty Bitcoin has made a slight recovery in the last week from a devastating period of falling prices It is not known who owns the Bitcoin address. Andy Hoffman, the operator of a cryptocurrency consultation firm, declared that the current value of 96,000 Bitcoin is an estimated $900,000,000 (640,000,000) at current market rates. He tweeted: Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased $344 million worth at an average of $8,400 (5980.55) from 2/09/18 through 02/12/18 - then, doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth around $900,000,000 at todays price ($9,400). Bitcoin has made a slight recovery in the last week from a devastating period of falling prices. Everything you need to know about bitcoin Mon, October 30, 2017 How to buy bitcoin: Everything you need to know about cryptocurrency wallets and bitcoin cash. Bitcoin is a new kind of money Getty Images 1 of 13 Bitcoin is a new kind of money At the time of writing the cryptocurrency is valued at $10,580.01 (7,532.65) with $1,884.96 (1341.94) added to the virtual currencys price in the last week. The improved market situation marks an increase of 21.68 per cent. Back in December, Bitcoin hit an all-time high of $19,535.70 (13,991.86) on December 17 before sharply declining. Cybersecurity coordinator says US not close to regulating bitcoin A brief resurgence of the cryptocurrency occurred on January 6 when the value hit $17,035.60 (12,201.24) before dramatically going into free fall. Four out of five Januarys between 2013 and 2017 saw a decline in Bitcoin prices. Meanwhile, Bitcoin Cash, Ethereum and Litecoin have all seen price increases in the last week that will surely have investors breathing a sigh of relief. BitcoinGetty Back in December, Bitcoin hit an all-time high of $19,535.70 (13,991.86) BitcoinGetty Four out of five Januarys between 2013 and 2017 saw a decline in Bitcoin prices Bitcoin Cash is currently worth $1487.77 (1059.17) which marks an increase of 17.01 per cent. Ethereum saw a small increase of 7.44 per cent that took its current value up to $924.71 (658.32). Litecoin grew by 37.24 per cent in the last seven days - the cryptocurrency is now worth $218.22 (155.31). Related articles