In the last three months, an unfamiliar wallet has accumulated Bitcoins worth more than $3 billion, evoking numerous theories concerning the likely owner.
An unfamiliar Bitcoin has become the world’s third-biggest Bitcoin holder in just over three months. Its timing has evoked numerous theories concerning the owner.
Data from BitInfoCharts, a crypto statistics platform, shows that the wallet’s initial receipt of Bitcoin was on March 8. Over the next three months and two weeks, it accumulated 118000 BTC, whose current price is $3.08 billion.
Scaled Accumulation of Bitcoin Attracts Speculations of Crypto Exchange Activity
The quick and considerable accumulation of Bitcoin in one wallet has attracted speculations. Some users say it is a crypto exchange involved in funds transfer. On the other hand, some diehard Crypto Twitter members have posted a wild postulation by claiming that BlackRock is the primary suspect.
Nevertheless, despite others sharing their support by posting pictures of a big black rock, the theory is not founded on solid proof. BitInfoCharts claims that Bitfinex and Binance allegedly own the present largest Bitcoin wallets in the world. The unfamiliar Bitcoin whale wallet is ranked third, while another Binance cold wallet is ranked fourth.
Wallet Accumulating Bitcoins Mirrors Disturbance Elicite Exchange Traded Fund (ETF) Links
On June 15, BlackRock elicited disturbance in the crypto market following its application for a spot Bitcoin product that, when accepted by the Securities and Exchange Commission (SEC), would be the first of its kind in the U.S.
BlackRock’s application resulted in numerous filings for the same spot products from several Wall Street heavyweights, for instance, Valkyrie, Fidelity, Wisdom, and Invesco. A spot Bitcoin ETF’s outlook caused turmoil among crypto analysts, which resulted in them sharing optimistic predictions concerning Bitcoin’s price.
Tom Lee, Fundstrat’s head of research, claimed that following the splitting event in April 2024, Bitcoin’s price could reach $150000 per coin.
Speculators are pointing to possible activity by one of the ETF applicants in readiness for the much-awaited approval from the Gary Gensler-led SEC.
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