In little over three months, a mystery Bitcoin wallet has risen to become the third largest holder of Bitcoin (BTC) in the world, prompting some outlandish assumptions about its owner.
BitInfoCharts, a cryptocurrency analytics portal, reports that the wallet address first received Bitcoin on March 8. The wallet accumulated an astonishing 118,000 BTC over the course of the following three months and two weeks, which is equivalent to $3.08 billion at the current exchange rate.
In less than four months, the secret wallet has accumulated 118,000 BTC. There has been a considerable amount of speculation generated by the quick and large accumulation of Bitcoin within a single wallet address.
Some people claim it’s most likely a cryptocurrency exchange transferring money, while other outspoken individuals on Crypto Twitter have presented a wilder notion, claiming BlackRock is the “prime suspect.”
In the past three months, an unidentified address has collected more than $3 billion in #Bitcoin.
The main suspect?
On May 16th, 2023, the first significant transaction involving 3400 BTC was place. Almost precisely one month later, on June 15th 2023, BlackRock applied for its seat as a Bitcoin ETF. pic.twitter.com/TdFuUkELuH
Although there is no concrete proof to back the claim, others have voiced their support by sharing images of a big black rock.
According to BitInfoCharts, Binance and Bitfinex purportedly control the two biggest Bitcoin cold wallets in the world right now.
The unidentified Bitcoin whale wallet comes in third, and another cold Binance wallet follows it in fourth.
BlackRock created a stir in the cryptocurrency market on June 15 when it submitted an application for a spot Bitcoin ETF product, which would be the first of its type in the US if approved by the Securities and Exchange Commission.
Following BlackRock’s application, many other Wall Street powerhouses—including Fidelity, Invesco, Wisdom Tree, and Valkyrie—filed applications for comparable spot products.
The possibility of a spot Bitcoin ETF sent cryptocurrency researchers into a frenzy, prompting many to share their positive forecasts for the price of bitcoin. Fundstrat’s head of research, Tom Lee, said that after the coin’s halving event in April 2024, the price of one bitcoin might reach $150,000.
