Unknown Bitcoin Wallet Accumulated USD 3 Billion Worth of BTC

Unknown Bitcoin Wallet Accumulated USD 3 Billion Worth of BTC
Unknown Bitcoin Wallet Accumulated USD 3 Billion Worth of BTC

Newly created bitcoin wallet connected to previous richest bitcoin wallet without exchange.

Cryptocurrencies across the global crypto market have just finished trading at recent lows. This week brought some comfort to crypto investors, when crypto assets like bitcoin (BTC), ethereum (ETH), etc. have seen a slight increase in their prices. Bitcoin is around 21K USD.

In the midst of all these ups and downs, observers of the crypto market witnessed some unusual activity. This came out when a brand new bitcoin wallet was seen collecting BTC. On a normal day, it might not be a big deal, after all, what else does a bitcoin wallet do other than collect bitcoin. However, the reason this transaction caught the eye is because of the huge amount, which is -3 billion USD worth of BTC – in just three days.

As reported by a cryptoasset aggregator, it found that the newly created bitcoin wallet address received a total of 132,877 bitcoins. The transaction of this entire stack of BTC was done in the time window between July 19 to 21, 2022. The bitcoin wallet itself was created on June 15, 2022.

The Bitcoin wallet secured its first massive transaction on July 19, when it accumulated 15,499 bitcoins – worth $345.9 million USD, at the time of purchase. The very next day, the whale picked up bitcoin again, but this time it was quite a lot more than the previous one. On July 20, a purchase of 45,499 BTC was made, which amounts to $1.06 billion. The last activity was reported on July 21st, when the whale wallet received 71,879 bitcoins which is equivalent to 1.64 billion USD.

See also  Binance chief: Blockchain Industry showed 'enormous resilience'

More information was also found in the report, related to the transaction history of the wallet owner. This shows that of the entire amount of bitcoin received, a significant portion belonged to an account with Coinbase. While the rest of the bitcoin came from a wallet, the holder was known to be the richest bitcoin whale account, in non-exchange space.

During further investigation, the connection was found in the timing of the case of the richest non-exchange wallet running out and receiving bitcoin in a newly created wallet. However, after this transaction and with a staggering amount of bitcoin, the nascent whale account was named the richest non-exchange bitcoin wallet.

Last post by Andrew Smith (see all)

Leave a Reply

Your email address will not be published.