- In less than three months, an unknown Bitcoin wallet has shot up in ranking to become the third-largest Bitcoin holder.
- There has been a considerable amount of speculation as to who the owner of the Bitcoin wallet is.
- The speculations have sent Bitcoin into a frenzy with analysts predicting that it could reach a price of $150,000 per coin following the halving event in April 2024.
In less than three months, a secret Bitcoin wallet shot up the rankings to become the third-largest Bitcoin holder in the world (BTC $26,050), with the timing prompting some crazy hypotheses about its owner.
The wallet address first received Bitcoin on March 8, according to information from the cryptocurrency analytics portal BitInfoCharts. The wallet accumulated a startling 118,000 BTC during the following three months and two weeks, which is equivalent to $3.08 billion at the time of writing.
There has been a considerable amount of speculation generated by the quick and large accumulation of Bitcoin within a single wallet address.
Some people claim it’s most likely that the funds belong to a major crypto exchange moving their money around, while other outspoken individuals on Twitter have presented a wilder notion, claiming BlackRock (NYSE: BLK) is the “prime suspect.” another group claims it is the Winklevoss-led Gemini.
Although there is no concrete proof to corroborate the hypothesis, others have voiced their support by providing images of a huge black rock.
According to BitInfoCharts, Binance and Bitfinex are said to be the owners of the two largest Bitcoin cold wallets at the moment. Binance also holds the world’s largest Bitcoin wallet and has been in the number 1 position since March 2021. As of June, the wallet held 248,597, 1.28% of Bitcoin’s total supply. The unknown wallet is now the third-largest
Blackrock makes headlines
On June 15, BlackRock made headlines in the cryptocurrency industry when it submitted an application for a spot Bitcoin ETF product, the first of its kind to be approved by the Securities and Exchange Commission.
Following BlackRock’s application, many other Wall Street powerhouses—including Fidelity, Invesco, Wisdom Tree, and Valkyrie—filed applications for comparable spot products.
the potential for a position in Bitcoin ETF sent cryptocurrency researchers into a frenzy as they shared their optimistic forecasts for the price of Bitcoin, with Fundstrat’s head of research Tom Lee speculating that it might reach a price of
The possibility of a spot Bitcoin ETF sent cryptocurrency researchers into a frenzy, prompting many to share their positive forecasts for the price of Bitcoin. Fundstrat’s head of research, Tom Lee, predicted that Bitcoin might reach a price of $150,000 per coin following the halving event in April 2024.
Bitcoin is currently trading above $26,000 even though the market is experiencing a widespread sell-off. According to Material Indicators cofounder Keith Alan, Bitcoin’s price may eventually hit $25,000 before an upward rally toward $28,000 or $29,000.
About Black Rock
BlackRock, Inc. is an American multinational investment company based in New York City. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with US$8.59 trillion in assets under management as of December 31, 2022 according to Wikipedia.
