The subject we will touch on today will be an answer to a completely different question. What do the whales driving the cryptocurrency industry mean? Here is the answer to this question.
In order for a cryptocurrency to rise rapidly, certain conditions must be met. The most important of these conditions is huge investments. Here we do not mean several million dollars by huge investment. We're talking about billions of dollars.
Those who make these billion dollar investments are also known as whales in the crypto money industry. The simplest and most recent example of this situation is Elon Musk.
Musk, who recently invested $ 1.5 billion in Bitcoin, has achieved an increase of $ 10,000 in this unit. In other words, Musk raised his $ 1.5 billion to over $ 2 billion in seconds. If Musk turned his Bitcoins back into cash after this move, Bitcoin would be turned upside down.