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
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.