Skip to main content

The Enigmatic Rise of the $3 Billion BTC Whale — Tracing the Mysterious Path of Bitcoin’s Third Largest Wallet

The Enigmatic Rise of the $3 Billion BTC Whale — Tracing the Mysterious Path of Bitcoin's Third Largest Wallet

This week, various reports and social media discussions have centered around the third-largest bitcoin (BTC) wallet, a long-standing enigma that potentially maintains the same ownership despite changes in its address.

Billion-Dollar Mysteries: The Cryptic Evolution of Bitcoin’s Third-Largest Wallet

The mysterious bitcoin wallet has garnered attention as it rose to the third largest in a span of 98 days. The wallet, identified as “bc1ql,” currently holds 118,300.20 BTC as of August 22, 2023, amounting to approximately $3.07 billion based on current exchange rates. Notably, this third-largest BTC wallet has been shrouded in mystery for an extended duration, even amid changes to its address over recent years. For example, in November 2021, the “1P5ZE” address held the third position.

Much speculation surrounded this wallet; at one point it was erroneously attributed to Microstrategy’s bitcoin holdings. However, after 1P5ZE’s balance decreased to zero, another wallet — “1LQoW” — assumed the third-largest position in 2022. Boasting over 140,000 bitcoins in December 2022, this specific wallet shares transactional ties with both the infamous 1P5ZE whale and another address, “1FzWL.” Subsequent cluster analyses, heuristics, and deductions hinted at a possible change from 1P5ZE to 1LQoW.

When Bitcoin.com News covered 1P5ZE, a source with access to blockchain analytics tools (Chainalysis and Ciphertrace) informed our newsdesk that there is “an almost 100% chance that both addresses in your article, both 1P5ZE and 1FzWL, belong to Gemini.” Moreover, the latest address — bc1ql — is directly connected to the bitcoin address 1LQoW, insinuating that the enigmatic third-largest BTC address remains under identical ownership.

Chinese cryptocurrency journalist Colin ‘Wu Blockchain’ also posits that Gemini owns the new address. “Gemini has transferred bitcoins to the new address bc1q….59v2 in the past 3 months,” he reported. “It currently holds 118,000 bitcoins, or about 3.08 billion U.S. dollars. It is currently the third largest bitcoin holder. The first and second largest Bitcoin addresses are Binance Cold Wallet and Bitfinex Cold Wallet,” he added.

Speculation persists, with some suggesting that Blackrock could be preparing for its exchange-traded fund (ETF). Notably, Arkham Intelligence labels the address under Jump Trading Custody as Robinhood’s. On blockchain explorer oxt.me, onchain analyst “Ergo BTC” posited on May 24, 2023, whether “Jump [was] handing the keys to Robinhood.” Despite conjecture, Blackrock owning the wallet seems highly unlikely. The most probable scenarios link the wallet to either Gemini or Robinhood and indicate a strong connection to the previous third-largest wallets 1LQoW and 1P5ZE.

What do you think about the third-largest bitcoin wallet mystery? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/hLSC4yi
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more