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

This week, assorted reports and societal media discussions person centered astir the third-largest bitcoin (BTC) wallet, a long-standing enigma that perchance maintains the aforesaid ownership contempt changes successful its address.

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

The mysterious bitcoin wallet has garnered attention arsenic it roseate to the 3rd largest successful a span of 98 days. The wallet, identified arsenic “bc1ql,” presently holds 118,300.20 BTC arsenic of August 22, 2023, amounting to astir $3.07 cardinal based connected existent speech rates. Notably, this third-largest BTC wallet has been shrouded successful enigma for an extended duration, adjacent amid changes to its code implicit caller years. For example, successful November 2021, the “1P5ZE” code held the 3rd position.

Much speculation surrounded this wallet; astatine 1 constituent it was erroneously attributed to Microstrategy’s bitcoin holdings. However, aft 1P5ZE’s equilibrium decreased to zero, different wallet — “1LQoW” — assumed the third-largest presumption successful 2022. Boasting implicit 140,000 bitcoins successful December 2022, this circumstantial wallet shares transactional ties with some the infamous 1P5ZE whale and different address, “1FzWL.” Subsequent clump analyses, heuristics, and deductions hinted astatine a imaginable alteration from 1P5ZE to 1LQoW.

When Bitcoin.com News covered 1P5ZE, a root with entree to blockchain analytics tools (Chainalysis and Ciphertrace) informed our newsdesk that determination is “an astir 100% accidental that some addresses successful your article, some 1P5ZE and 1FzWL, beryllium to Gemini.” Moreover, the latest code — bc1ql — is straight connected to the bitcoin code 1LQoW, insinuating that the enigmatic third-largest BTC code remains nether identical ownership.

Chinese cryptocurrency writer Colin ‘Wu Blockchain’ besides posits that Gemini owns the caller address. “Gemini has transferred bitcoins to the caller code bc1q….59v2 successful the past 3 months,” helium reported. “It presently holds 118,000 bitcoins, oregon astir 3.08 cardinal U.S. dollars. It is presently the 3rd largest bitcoin holder. The archetypal and 2nd largest Bitcoin addresses are Binance Cold Wallet and Bitfinex Cold Wallet,” helium added.

Speculation persists, with immoderate suggesting that Blackrock could beryllium preparing for its exchange-traded money (ETF). Notably, Arkham Intelligence labels the address nether Jump Trading Custody arsenic Robinhood’s. On blockchain explorer oxt.me, onchain expert “Ergo BTC” posited connected May 24, 2023, whether “Jump [was] handing the keys to Robinhood.” Despite conjecture, Blackrock owning the wallet seems highly unlikely. The astir probable scenarios nexus the wallet to either Gemini oregon Robinhood and bespeak a beardown transportation to the erstwhile third-largest wallets 1LQoW and 1P5ZE.

What bash you deliberation astir the third-largest bitcoin wallet mystery? Share your thoughts and opinions astir this taxable successful the comments conception below.