3rd Biggest Bitcoin Stash Now Belongs To Unknown Wallet, Amassed In Over 3 Months
August 22 2023 - 10:40AM
NEWSBTC
An unknown Bitcoin wallet has emerged as the global third-largest
BTC holder. The wallet used three months to accumulate BTC to
climb to its present position in the ranking of holders. Following
the recent revelation, some speculations and theories have been
trending about the owner of the mysterious wallet. BitInfoCharts
Shares Data About Mysterious Wallet The crypto statistics platform,
BitInfoCharts, provided data regarding the mysterious wallet. The
data indicated that the wallet first received some BTC coins on
March 8. Within three months and two weeks, the wallet amassed
118,000 BTC. Going by the current prices in the crypto market, the
coins are worth $3.08 billion. Related Reading: Polygon (MATIC) At
June Lows Again – Prospects For Bullish Recovery? Despite holding
such a large number of BTC, the whale is still not the largest in
the sector. Data from BitInfoCharts disclosed that the current
largest Bitcoin wallets in the world belong to Binance and Bitfinex
and these top two BTC wallets are currently operating as cold
wallets. Binance’s cold wallet emerged as the global largest BTC
holder on March 10, 2021, with 143,528 BTC. It progressed gradually
to hit an all-time high of 299,427 BTC by June 2021. But the
wallet’s holding as of June 2023 was 248,597 BTC coins worth over
$6 billion, according to the current prices. On the other hand,
Bitfinex’s cold wallet is ranked the second-largest BTC holder,
while the mysterious wallet occupies the third position currently.
Interestingly, the fourth-largest Bitcoin wallet is another Binance
cold wallet. Does BlackRock Own The Mysterious Wallet? Following
the emergence of the mysterious wallet as the third-largest Bitcoin
holder, speculations and theories started flowing within the crypto
space and many have suggested the possible owner of the wallet. One
X (formerly Twitter) user, DivXMan, pointed out that the mysterious
wallet witnessed its initial major transaction of 3,400 BTC tokens
on May 16, 2023. One month later, the largest global asset manager
Blackrock filed for a spot in Bitcoin ETF on June 15. Another user
posted a huge black rock, suggesting that the wallet belongs to
BlackRock. This has triggered a rumor that BlackRock could be the
owner of the unknown wallet. This is based on close timing between
its Bitcoin ETF filing and the wallet’s key accumulation of BTC.
However, the theories about BlackRock being the possible owner of
the mysterious wallet lack concrete evidence. Notably, the
application for a spot BTC ETF from BlackRock created a large wave
within the crypto market. And if the US Securities and Exchange
Commission (SEC) approves the filing, it would become the first
Spot Bitcoin ETF to trade in the US. Related Reading: Bitcoin
On-Chain Data Suggests Price Is Top Heavy, What It Means Besides
BlackRock, other prominent companies and entities applied for a
spot in Bitcoin ETF. These include Fidelity, Valkyrie, Invesco, and
Wisdom Tree, among others. Featured image from Pixabay and chart
from TradingView.com
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