A ‘whale’ quietly accumulates three billion USD worth of Bitcoin.

In three months, a substantial amount of Bitcoin, totaling 118,000 BTC and worth over 3 billion USD, has been quietly accumulated by an anonymous whale, making it the third-largest wallet in the cryptocurrency market.

Data from the cryptocurrency statistics platform BitInfoCharts reveals that the address of the newly emerged anonymous whale wallet received its first Bitcoin (BTC) on May 9th. Within just the following three months, the wallet amassed a remarkable amount of Bitcoin, totaling 3.08 billion USD at the exchange rate as of August 19th.

The chart illustrates the potential accumulation capability of the anonymous whale wallet. Image: BitInfoCharts.

The rapid and massive accumulation of Bitcoin by a single wallet has sparked numerous speculations about its owner. Some believe that only specialized cryptocurrency funds possess the financial capacity for such a large amount of Bitcoin. On the other hand, seasoned individuals in the field predict that BlackRock could be the owner of this wallet.

BlackRock is the world’s largest asset management company headquartered in New York. On August 11th, the corporation announced its entry into the cryptocurrency market by establishing a Private Bitcoin Trust for institutional investors.

The involvement of a traditional asset management company like BlackRock in Bitcoin is significant for the digital currency community. This move not only injects a substantial amount of funds into the market but also potentially influences future policies. BlackRock also contributes to supporting the decisions of the Federal Reserve in some aspects. However, the presence of this investment fund could bring cryptocurrency products closer to a stock-like operational model.

Currently, there is no concrete evidence linking BlackRock to the newly emerged massive Bitcoin wallet. Nonetheless, many reputable figures in the community endorse this viewpoint by sharing images of a large black rock on Twitter.

According to BitInfoCharts statistics, the world’s largest BTC wallet currently belongs to Binance, followed by Bitfinex. Both of these wallets are secured as cold wallets. The recently emerged whale wallet holds the third position. Following that is another cold wallet associated with Binance.

On June 15th, BlackRock filed an application for a Bitcoin ETF for immediate trading with the U.S. Securities and Exchange Commission. Despite not yet being approved, some analysts speculate that BlackRock’s move could potentially drive the price of Bitcoin up to $150,000 by 2024.