A prominent Bitcoin enthusiast and investor, Jeremie Davinci, has recently taken to his social media account on platform X – formerly known as Twitter – to express his steadfast faith in the revolutionary digital currency, Bitcoin (BTC).
Davinci’s succinct but potent tweet reads, “Truth is indestructible. #Bitcoin”. This message, while open to interpretation, may allude to a variety of aspects related to the Bitcoin phenomenon. It could be seen as a reference to the fixed limit of 21 million Bitcoins that can ever be created, a fact that sets Bitcoin apart from traditional fiat currencies. Alternatively, it may be seen as an abstract nod to the revolutionary concept and idea behind Bitcoin, a common topic of discussion among the crypto community on the platform.
The tweet triggered a wave of optimism among Davinci’s followers, who are ardent supporters of the world’s leading digital currency, Bitcoin.
At the time of writing, Bitcoin trades in the $69,000 range, a slight dip from its previous position. In the last hour, it plunged to the $68,300 zone, marking a 1.33% decline in the last day overall. On a larger scale, the cryptocurrency has lost 7.26% since Tuesday, Oct. 29, after edging towards the $74,000 mark.
Despite this recent downturn, Whale Alert, a crypto tracking platform, has reported significant Bitcoin purchases, indicating that ‘whales’ – significant holders of Bitcoin – are buying on the dip. An anonymous user recently withdrew 2,000 BTC from Bybit, a major crypto exchange, likely moving it to a cold storage address. This transaction equates to a staggering $137,247,624. The ‘whale’ in question currently holds an impressive 51,710 BTC, valued at an astronomical $3,569,790,542.
Lookonchain, another on-chain data source, has also reported numerous large Bitcoin purchases on the Binance exchange since Nov. 1. Five distinct wallets purchased a total of 2,780 Bitcoins, with individual transaction sizes of 880 BTC, 615 BTC, 595 BTC, 550 BTC, and 140 BTC.
While the current Bitcoin plunge could be attributed to market uncertainty in the lead-up to the U.S. Election Day, many ‘diamond hands’ – steadfast holders in the crypto community – are viewing this as an opportunity to purchase BTC at a discounted rate.
Prominent financial author Robert Kiyosaki, best known for his book “Rich Dad Poor Dad”, recently expressed his bullish sentiment for Bitcoin, tweeting that he loves “the Bitcoin Standard.” This optimism, shared by many experts, predicts a significant rise in Bitcoin’s value in the coming year. Only time will tell whether this prediction holds true, but for now, the ‘indestructible truth’ of Bitcoin continues to captivate the global financial community.
