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.
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.
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.
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.
Besides BlackRock, other prominent companies and entities applied for a spot in Bitcoin ETF. These include Fidelity, Valkyrie, Invesco, and Wisdom Tree, among others.
[#item_full_content]NewsBTCRead MoreThe decline followed sharp losses in Asian and U.S. tech shares, where concerns over peaking…
It is the same setup Michael Burry warned about this week, when he said falling…
The Bitcoin drawdown below $75,000 has market participants debating a familiar question: how long does…
On-chain data points to fading demand and tighter liquidity, while prediction markets show little expectation…
Bitwise is laying out a bold scenario: Bitcoin could climb to a new record in…
Bitcoin price extended its decline below $73,500. BTC is now consolidating losses but faces many…