Rapid Surge of Mysterious Bitcoin Wallet Raises Speculation and Theories
Summary:
A mysterious Bitcoin wallet has rapidly become the third-largest holder of Bitcoin, accumulating 118,000 BTC worth $3.08 billion in just over three months. Speculations arise about the owner, including theories involving BlackRock. The wallet's sudden rise sparks intrigue and debate within the crypto community.
A previously unknown Bitcoin wallet has emerged as the third-largest holder of Bitcoin globally within a span of only three months, leaving many speculating about its owner. The wallet address received its first Bitcoin on March 8 and has since accumulated an astonishing 118,000 BTC, valued at $3.08 billion. While some believe the wallet belongs to a crypto exchange moving funds, others have gone so far as to suggest involvement from investment management firm BlackRock. Although these theories lack concrete evidence, supporters have shared images of a large black rock to strengthen their arguments. The current top two largest Bitcoin wallets belong to Binance and Bitfinex, both of which are classified as Bitcoin cold wallets. In fourth place is another Binance cold wallet. In June, BlackRock made headlines by filing for a spot Bitcoin ETF, the first of its kind in the United States, which prompted a wave of similar filings from other major financial institutions. The potential approval of a spot Bitcoin ETF has generated bullish predictions from crypto analysts, with some speculating that Bitcoin's price could reach $150,000 per coin following the halving event in April 2024. The mystery surrounding the creation of Bitcoin has also led to speculation about whether the NSA had a hand in its development.
Published At
8/22/2023 5:50:36 AM
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