The unidentified wallet has become the third-largest Bitcoin holder

The unidentified wallet has become the third-largest Bitcoin holder

Author: James Soplin
Subscribe

 

The unidentified wallet has become the third-largest Bitcoin holder

Unknown wallet accumulated $3 billion and became the third largest Bitcoin holder



The wallet has accumulated 118 thousand bitcoins

An unknown Bitcoin wallet has become the third largest holder of Bitcoin (BTC) in the world in just three months, according to data from the BitInfoCharts platform.

Bitcoins were first transferred to the wallet's address on March 8, 2023, at which time 0.25 BTC was purchased. In May, the wallet accumulated 64.1 thousand BTC, and in June - another 54.2 thousand BTC. There were also small purchases in July. In total, the wallet has accumulated 118 thousand bitcoins with a total value of $3.08 billion at the current BTC exchange rate of $26 thousand, according to Coingecko. At the time of publication, its investment loss is $91.4 million.

According to one version of X (formerly Twitter) users, the funds collected in the wallet represent funds from one of the crypto exchanges. One of the users suggested that it could be BlackRock - a large purchase of bitcoins for 3.4 thousand occurred exactly one month before the company announced the Bitcoin-ETF.

In August, Glassnode analysts estimated that about 90% of short-term Bitcoin holders were at a loss. The most likely scenario going forward is continued selling by short-term Bitcoin holders, whose holdings currently total 2.26 million BTC, experts said.

 

Other news

Co-founder of bankrupt crypto fund Three Arrows Capital detained in Singapore
WSJ: Crypto-industry participants have started to prepare for the collapse of Binance
Binance is leaving Russia. Why it happened and what to do for its users
SEC once again postpones bitcoin-ETF decision
Unsubtle Optimism. How to make Ethereum faster and cheaper for everyone
JPMorgan has banned any cryptocurrency transactions for UK clients