Cointelegraph Team
Cointelegraph
A mysterious Bitcoin wallet has surged up the ranks to become the third-largest holder of Bitcoin (BTC $26,050) in the world in just over three months, with the timing sparking some wild theories about its owner.
According to data from crypto statistics platform BitInfoCharts, the wallet address first received Bitcoin on March 8. Over the course of the next three months and two weeks, the wallet had accrued a staggering 118,000 BTC — worth $3.08 billion at current prices.
The mysterious wallet has accrued 118,000 BTC in less than four months. Source: BitInfoCharts
The rapid and significant accrual of Bitcoin within a single wallet address has attracted its fair share of conjecture.
Some users suggest it’s most likely a crypto exchange moving funds, while some more radical members of Crypto Twitter have posted a more wild theory — suggesting BlackRock is the “prime suspect."
The theory is not based on any solid evidence, however, others have shared their support it by posting pictures of a large black rock.
The current largest Bitcoin wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin cold wallets.
The unknown Bitcoin whale wallet comes in third place, and is then followed by another Binance cold wallet in fourth place.
BlackRock made waves in the crypto market on June 15 when it filed an application for a spot Bitcoin ETF product which — if accepted by the Securities and Exchange Commission — will be the first of its kind in the United States.
BlackRock’s application sparked a wave of filings for similar spot products from a horde of other Wall Street heavyweights, including Fidelity, Invesco, Wisdom Tree and Valkyrie.
The prospect of a spot Bitcoin ETF whipped crypto analysts into a frenzy, sharing their bullish predictions for the price of Bitcoin — with Fundstrat’s head of research, Tom Lee suggesting that Bitcoin could reach a price of $150,000 per coin following the halving event in April 2024.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Crypto traders brace for short-term volatility with $2.4 billion options expiry on Friday
Bitcoin and Ethereum options market looks bullish on Friday, according to data from intelligence tracker Greeks.live. The firm said it has identified two Bitcoin calls that show an underlying bullish sentiment among market participants.
XRP recovers from week-long decline following Ripple’s response to SEC motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Lido adds 4% gains as protocol rolls out first step towards decentralization
Lido takes the first batch of simple DVT validators to live, a step taken to decentralize the protocol. Lido leveraged technology to expand the protocol to multiple node operators, inviting both solo and community stakers.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.