RATE Group | Bitcoin Whale ‘Defends’ $7.2K Price With 800 BTC to Win $0.01 in DOGE
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Bitcoin Whale ‘Defends’ $7.2K Price With 800 BTC to Win $0.01 in DOGE

13 Dec Bitcoin Whale ‘Defends’ $7.2K Price With 800 BTC to Win $0.01 in DOGE

Posted at 12:46h in Bitcoin News by

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Bitcoin (BTC) price may have spiked throughout the global market on Dec. 12 due to the actions of a single bagholder — trying to win a $10,000 Dogecoin (DOGE) bet.

In an ongoing Twitter exchange, a Bitcoin whale known as Joe007 and Dogecoin supporter Samu publicly jostled for supremacy as it emerged Joe007 likely bought 800 BTC ($5.77 million) to defend the $7.2K level.

800 BTC to win 5 million DOGE

The latter is a prominent trader — and last month’s leader — on cryptocurrency exchange Bitfinex, with monthly realized profits currently totaling almost $2.7 million.

The two originally placed a bet on BTC/USD trading above $7,100 at 1 p.m. UTC on Dec. 12. If that level remained, Samu would have had to send 5 million DOGE ($10,995) to an address determined by Joe007.

If the opposite occurred, and Bitcoin traded below $7,100 at the time, Joe007 would have to send 5 million DOGE to Samu directly.

In the event, Joe007 won, but not before a mysterious price event suddenly saw Bitcoin…

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