Anonymous Whale has risen to be the third-largest Bitcoin holder with 124,485 BTC ahead of MicroStrategy’s 124,391.
Buying the dips enabled the deep-pocketed investor to use $2.76 billion to purchase more tokens than what MicroStrategy managed with $3.75 billion.
The wallet overtook the firm after adding 160 more BTC worth about $5 million at the current price. It also amassed 488 BTC for $18 million since last week, taking advantage of the ongoing sell-off.
The anonymous address has been competing with MicroStrategy for a while, buying each dip since the token hit an all-time high last year.
The last known purchase by MicroStrategy was 1,914 bitcoins at the close of last year, with the CEO forecasting that the asset would be worth more than $6 million in the future.
The news comes as data from BitInfoCharts shows another whale that increased its holdings from 257 bitcoins to 28,931 bitcoins during the bear market.