Unknown Bitcoin Whale Gains $3B in 90 Days

[rybako]

https://bitinfocharts.com/bitcoin/address/bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2

This person is en route to becoming the third-biggest BTC address in the world. It started accumulating in May and has not sold a single satoshi.

Just your above-average whale shark casually swimming in the Bitcoin sea.

https://dailyhodl.com/2023/08/21/mysterious-bitcoin-whale-accumulates-over-3087545354308754535-worth-of-btc-in-less-than-three-months/

[Findingnemo]

Kind of mysterious not because the total accumulated amount in a very short time is just due to the transaction history where you can see exact rounded figures repeated.

I checked the TX history the address received 1700,1750,1800,1900 multiple times which made me curious whether it is some kind of salary for their job or what. And after a while, it received only dust amounts.

not sold a single satoshi.

Actually no, because you can see the address spend 0.25000000 BTC.

[Poker Player]

Well but as the same news item you link says:

It’s possible the address, which is still relatively new, could be another crypto exchange reorganizing its BTC reserves.

In other words, we must doubt that it is a new shark accumulating if we do not have more data. Why it is accumulating so much Bitcoin in an address would have to be seen, but the most normal thing is that it is an entity and not an individual.

[Mr.right85]

not sold a single satoshi.

Actually no, because you can see the address spend 0.25000000 BTC.

Was just about commenting on that after scanning the address although, it didn’t reflect in its last 100th transactions but, it showed that the address has sent out BTC0.25 worth about $6.5k and that’s a lot of money still though, not comparable to the content of that wallet.

It’s surprising as to how these deposit came pouring in and in what amount. Here is one taking advantage of the recent drop in bitcoin price without minding the price, not looking to buy at a dip but any slight drop and very huge buys. What’s still surprising is the dust amount. I don’t quite understand why one would do that.
My thoughts lives me with the idea of a corporation and maybe that’ll be a fee almost shareholders or something, can’t say for sure.

[pooya87]

This person is en route to becoming the third-biggest BTC address in the world.

How do you know with certainty that this address belongs to a "person" and not a company like an exchange or some big service?
It's the same problem with the opposite type news saying "a whale dumped bitcoin". We can not say who the coins being moved belong to or their purpose. This claim about someone buying bitcoin is as as false as those other claims about some whale dumping bitcoin.

[blckhawk]

It's not 90 days, more like 50 days because the following days, it's smaller amounts compared to the early transactions which are far more astounding than those later transactions. It's just awesome to see a whale just casually moving their bitcoins, hard to imagine how to spend that much bitcoin.

It’s surprising as to how these deposit came pouring in and in what amount. Here is one taking advantage of the recent drop in bitcoin price without minding the price, not looking to buy at a dip but any slight drop and very huge buys. What’s still surprising is the dust amount. I don’t quite understand why one would do that.
My thoughts lives me with the idea of a corporation and maybe that’ll be a fee almost shareholders or something, can’t say for sure.

I think that everyone that has that kind of money would be able to do that kind of thing, a bit harsh and crazy to compare whales and peasants when it comes to buying bitcoin, that 3B USD might be a chump change for them but for us peasants, it's enough to help us live through multiple lifetimes. Maybe the reason that there's a dust amount is because they're moving their bitcoins and that there are stray wallets that have some dust amounts that they want to empty out hence the dust amounts.

[BenCodie]

Follow the money....someone obviously knows something that we don't. Or, believes in something that we all do know and is putting the money behind that idea, being the halving. Or, a pessimistic view is that this money could be used to keep the price down, if it belongs to interests who are against BTC, I.e. the fed. Very possible given the amount and the little effect on price.

One thing is for sure; they must be a high level or very powerful individual/group/institution to be able to buy this amount of coin without regulatory constraint and the ability to remain completely private from social media and media outlets. I'm sure they will covet their presence after the market rises or drops dramatically, or when they sell.

[franky1]

it received some funds from
1JHceFenZHACSRPD6tE4bfU6yJ83wTG6kH

https://www.blockchain.com/explorer/transactions/btc/d88c2ecf779b46ddb7b043c6df6f9ac760193131aa1e2b65bbfc39615207cdbd
https://www.blockchain.com/explorer/transactions/btc/18015fbf251a4ab6261fa4179dbe3ff99ad0ec0b039a584a7b6932b32a1f63d3
https://www.blockchain.com/explorer/transactions/btc/3d434adcc3cb83776796db815d02fde6bb5994503e0d0ded5a20276c96f31b64
https://www.blockchain.com/explorer/transactions/btc/e9c67821fe708517b522447ce2bf229278a5331d4872043b8fe8073a2fa619cf
and so on and so on

which google says is a microstrategy address..


so now we know micheal saylors stash



im going to guess the 1JHce and the bc1ql49 are either/or one of saylors deposit addresses for an exchange

[sunsilk]

It always becomes a news that when some new addresses out of nowhere has been put into headlines.

Just accept the fact that these "unknown" whales are also the exchanges out there. If there have been an individual that owns a lot, then those are the first and early investors like the twins.

But even with that, typically these amounts belongs to huge corporations known as the exchanges.

[yhiaali3]

This is a very large amount of Bitcoin, but it is difficult to know if this address belongs to a person, company, or exchange. Perhaps, as some members here say, it belongs to Michael Saylor and MicroStrategy.

Personally, I do not rule it out because we are used to Michael sailor's taking advantage of every opportunity to drop the price of bitcoin and buying new quantities.

If this prediction is correct, it will be very good, but usually MicroStrategy announces its purchase of Bitcoin with the publication of the details, but here we find that the matter was done in secret, and this is strange from the company's strategy.

[shivansps]

We do not have enough data to understand whether this is a new whale or not.
Interesting is the number of deposits and the amount received on the account
We don't know if this address is owned by one person or if it's a company or a corporation.
I am glad that this is a legal entity and not an individual

[Sim_card]

With the high rate of buying and consistency, I believe that the address belongs to a corporation, probably an exchange. It is only such body that would be able to stash up bitcoin in this aggressive manner due to taking advantage of the price of bitcoin, together with the halving coming up next year. I don't think that an individual will be able to have such funds and put it into bitcoin. From where those funds are coming from for the various purchases,that source still has more funds flowing there. This is why I believe it is an exchange or a corporation using an exchange to keep its btc.

[franky1]

With the high rate of buying and consistency

its not a high rate of buying in 90 days.. its microstrategy shuffling his stash(combining) to different address (which could be a exchange ready to sell(speculated))

[posi]

I also read this yesterday and according to some rumours I heard it's BlackRock's wallet. Rumor has it that they are quite confident that their's ETF will be accepted so they have been quietly collecting bitcoins for the past several days. This is just a rumor and there is no evidence to back it up but I think if the SEC had to accept an ETF it would be clear that BlackRock would be their pick.

Follow the money....someone obviously knows something that we don't.

Yes, someone is knowing something we don't, and this is not the first time. That's why I still believe that this market is still being manipulated and not driven by supply and demand.

[TravelMug]

With the high rate of buying and consistency, I believe that the address belongs to a corporation, probably an exchange. It is only such body that would be able to stash up bitcoin in this aggressive manner due to taking advantage of the price of bitcoin, together with the halving coming up next year. I don't think that an individual will be able to have such funds and put it into bitcoin. From where those funds are coming from for the various purchases,that source still has more funds flowing there. This is why I believe it is an exchange or a corporation using an exchange to keep its btc.

Yeah, it can fall to the following categories,

a. Exchanges
b. Crypto base gambling platform
c. And as what Frankly stated, it could be Michael Saylor.

But the lessons here, and this is just my personal opinion, we shouldn't like following this addresses or some kind of whale alert in Telegram or Twitter. Because it will just confused us, specially if you are new to the game. Let them do all the moving of their stash, and as long as you can keep yours, then there is no hurt done here, simple as that.

[yudi09]

-snip-

The owner of the contents of $ 3B behind the wallet, there is a source who says that it is most likely owned by two well-known exchanges, namely Binance and Bitfinex. Other allegations point to Robinhod and there are also other allegations aimed at BlackRock as the main suspect as written on cointelegraph.



Even though the piece of news headline is Mystery solved, for me the main owner behind the contents of the wallet is still a blur. In fact I see this information like the alleged sale of all assets addressed to Elon Musk a few days ago.

[Bureau]

Yeah, it can fall to the following categories,

a. Exchanges
b. Crypto base gambling platform
c. And as what Frankly stated, it could be Michael Saylor.

An exchange has the highest probability of accumulating a large amount of Bitcoin. I doubt a gambling platform can secure such a substantial investment from a gambler. Although Michael Saylor has been consistently buying Bitcoin, it is unlikely that he could acquire such a significant amount in just a couple of days. To understand how he is making those purchases, it would be helpful to conduct a Google search. I believe it may involve an exchange wallet, likely associated with a major player in the exchange industry.

[summonerrk]

This person is en route to becoming the third-biggest BTC address in the world. It started accumulating in May and has not sold a single satoshi.

Just your above-average whale shark casually swimming in the Bitcoin sea.

How can a person who has such a huge amount of bitcoins be called a shark, he also has the third largest share in bitcoin? this is definitely one of the biggest whales! I've always wondered what makes such people not spend bitcoins? after all, they saw these crazy prices at 60k for bitcoin, did they really have no desire to buy fiat. It turns out that such people are not needed at all in money. But after all, he could increase his number of bitcoins by constantly distilling them into stable coins and back into bitcoin. In general, such people are a strange phenomenon and it's hard for me to understand them.

[SamReomo]

I think that whale is not a single human but a whole company or exchange that's trying to accumulate a lot of Bitcoin in order to gain much profit during the next bull run. The company will most probably recover its own investment during the peaks of the bull run and at the same time they will make profits as well. After that the wallet may hold the remaining coins for a very long period and way earn profits with each bull run by selling huge sums of the coins from that accumulation. Let's say that if the current worth of the coins is $3B then in next bull run's peak the amount will most probably be around $12B which is not a small amount. And, when that happens the address can easily sell half of the coins over a short period and leave the half in the wallet for next bull runs.

[sheenshane]

..Other allegations point to Robinhod ..

Based on Binance article, it's from the Robinhood Markets Inc.
But I didn't find an answer that Robinhood confesses this accusation.

Whatever it is, it's expected that one day those big whales might sell their Bitcoin holding and could have an impact on the market.
However, if the Bitcoin price goes up, it will go up, because I'm afraid that traders and investors in the market will might react to the news.  If there is a perception that other large holders might follow suit, it could lead to a panic sell-off.