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An unknown crypto wallet has rapidly come up the ranks to become the third-largest Bitcoin holder globally in just over three months. The wallet’s swift emergence into the top charts has sparked a flurry of speculation about the identity of its owner.
Detailed insights from the cryptocurrency tracking platform, BitInfoCharts, reveal that this particular Bitcoin wallet began its journey on May 8th. Interestingly, over the next three and a half months, it had amassed more than 118,000 BTC. Given today’s market values, this stash is worth $3.09 billion.
The sudden and massive accumulation of Bitcoin by this single wallet hasn’t gone unnoticed. Its swift ascent has stirred considerable debate and speculation.
Public Speculation about Unknown Wallet
The story has fueled much discussion on Reddit, with users offering various theories on the wallet’s possible owner. Some users agree that this could be a crypto exchange consolidating its funds. However, taking a more speculative route, certain members of the Crypto Twitter community hint at the possibility of financial giant BlackRock being behind the move.
— Hodlius ₿ Maximus (@MAKS_Diogenes) August 19, 2023
Even Jason Hamlin, the founder of Nicoya Research, has pointed toward BlackRock as a potential suspect. But it’s crucial to note that these are mere speculations, with no concrete evidence to back them up.
This unknown address has accumulated over $3 Billion worth of #Bitcoin in the last 3 months.
The prime suspect?
The first major transaction of 3400 BTC occurred on May 16th 2023. Almost exactly 1 month later on June 15th 2023, BlackRock filed for it's spot #Bitcoin ETF. pic.twitter.com/TdFuUkELuH
— DivXMaN (@crypto_div) August 21, 2023
As this intriguing story unfolds, the crypto community will undoubtedly be on the edge of their seats, waiting to see if the actual owner of this unknown wallet steps into the limelight.
What Next for Mystery Wallet?
The top two Bitcoin wallet spots are dominated by Binance and Bitfinex, both holding their Bitcoin reserves in cold storage. The mysterious wallet with more than $3 billion worth of Bitcoin takes the third spot, with another Binance cold wallet trailing rn the fourth position. It will be interesting to note if the unknown third-placed Bitcoin wallet continues on its trajectory to challenge for the top spot.
Citcoin’s trading value currently stands at $26,050.60, marking a decline of 12.5% month-over-month.
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