Mysterious Owner Behind $3 Billion Bitcoin Wallet Has Finally Been Exposed

It is not unusual for wallets with high-volume transactions and large holdings to pique the interest of the Bitcoin community due to their sheer size. One such wallet is that of a mysterious whale, which had reportedly accumulated $3 Billion in Bitcoin in the last three months. And now, it seems the owner’s identity has been revealed. 

Who Owns This Wallet?

The unknown wallet was first brought to the notice of the crypto community by an X (formerly Twitter) user (@crypto_div), who noted in his tweet that the wallet had accumulated $3 Billion worth of Bitcoin in the last three months.

Data from the crypto platform BitInfoCharts also confirmed the existence of this wallet and it had been active since May 8, when it first acquired 0.25 BTC (around $6,860 at the time). Since then, the wallet has accumulated over 118,300 BTC (worth $3.13 billion currently).

Interestingly, this wallet ranks third among the richest Bitcoin addresses according to data from BitInfoCharts. It ranks only behind Binance and Bitfinex cold wallets, each boasting a balance of 248,597 BTC ($6,582,934,996) and 178,010 BTC ($4,713,761,629), respectively. 

Many in the crypto community were quick to single out BlackRock as the wallet’s owner as the wallet had reportedly become active just over a month before BlackRock applied to offer a Spot Bitcoin ETF. 

That was a plausible guess, considering that the asset manager would undoubtedly be looking to accumulate as much Bitcoin as possible ahead of a possible approval by the US Securities and Exchange Commission (SEC).

However, the actual owner of the wallet has finally been revealed. According to data from the blockchain analysis platform Arkham Intelligence, Robinhood appears to own this mysterious wallet as it is tagged ‘Robinhood: Jump Trading Custody’ on the platform. 

Maybe Not Robinhood?

While data from Arkham Intelligence suggests that Robinhood owns this mysterious wallet, there is also evidence to suggest otherwise.

A tweet from Chinese reporter Colin Wu stated that crypto exchange Gemini is responsible for some of the inflows into the mysterious wallet as it had allegedly transferred Bitcoin into the said address of the wallet. 

While this does not outrightly mean that Gemini owns the wallet, it raises doubts as to Robinhood’s ownership of the wallet. 

Amid this mystery, there is good news for the Bitcoin community as whoever owns this wallet is undoubtedly long-term bullish on Bitcoin, considering that they have accumulated this large amount of BTC in just three months without selling since its first significant inflow on May 8.