Blockstream CEO Adam Back highlights a massive Bitfinex whale absorbing the network's entire net daily supply at $90,000.
A single large-scale investor on Bitfinex has been systematically acquiring 450 Bitcoin daily. According to Adam Back, this precisely matches the net daily output of the global mining network—meaning one buyer is effectively removing the entire new daily supply from circulation.
The network creates ~900 BTC/day. However, miners must sell roughly half (450 BTC) to cover electricity and hardware. The Bitfinex whale is absorbing this exact "sell pressure" daily at the $90,000 price mark.
| Metric | Current Value | Description |
|---|---|---|
| Block Reward | 3.125 BTC | Reward for validating a block (~10 mins) |
| Daily Emission | ~900 BTC | Total new BTC created per day |
| Whale Buy Rate | 450 BTC/day | Absorbs 100% of estimated miner net sell pressure |
Q1: What impact could this have on Bitcoin’s price?
A1: Consistent buying reduces the liquid supply on exchanges. If demand remains high while supply is absorbed by one entity, it can create significant upward price support.
Q2: Why is the whale’s identity unknown?
A2: Blockchain addresses are pseudonymous. While the volume is visible, linking it to a specific company or person requires off-chain data.
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