Bitcoin has been playing with our hearts, and playing with our minds, and now it has been reported that someone bought $400 million of the number one digital currency, clearly betting on a major turnaround.

According to Market Watch, the unknown trader with the bitcoin address ‘3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64’ purchased the coins between February 9 and February 12, taking his bitcoin balance from 55 000 coins to more than 96 000.

That was when the value of bitcoin was at a year’s low – but it has since made a spectacular comeback: On February 6, bitcoin was at $6 000, but, true to one speculator’s hunch, has now climbed back up over $10 000, increasing more than 60%.

Alex Sunnarborg, a Founding Partner of Tetras Capital, said:

“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 U.S. and Asia.

The transaction, which has been shared all over social media and online chat forums, has people talking:

“I am willing to believe that, seeing bitcoin bottom around $6,000, Wall Street smelled blood and jumped back in,” Jeff Koyen, president of 360 Blockchain USA, said.

Because now, with bitcoin back up above $10 000, the owner is nearing the bitcoin billionaires club.

Take a look at ‘3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64’s balance:

Want a balance like that too? If you’re keen to get involved Luno has all the know-how to get you started with a few taps on your phone.

[source:marketwatch]