Bitcoin’s 2017 Boom Largely Fueled by a Single Trader

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Bitcoin’s 2017 bull run, which saw the world’s leading digital asset top out at nearly $20,000 USD, was mostly driven by a lone anonymous trader, according to analysis gathered by two finance professors from the University of Texas and Ohio State University.

Professors John Griffin and Amin Shams analyzed over 200 gigabits of data relating to the transaction history between Bitcoin and Tether, another highly controversial stablecoin, and found that the surge in value in late 2017 was attributable to one large player, or a whale in the crypto world, but the identity of the investor …

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