Mysterious new Bitcoin Whale amasses 3rd largest crypto wallet in only 4 months

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Last Updated on 6 November 2023 by CryptoTips.eu

Amidst all the economic doom and gloom over high interest rates, high inflation and panic on the crypto and stock exchanges, there is also a new mystery to be noted. Virtually unheard of, a single crypto wallet climbed to become the third largest holder of Bitcoins in just a few months, with assets currently valued at $3 billion. Unseen.

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Mystery

The largest Bitcoin wallets are known to respectively belong to Binance and Bitfinex, both longtime Bitcoin hodlers. Their fortune moves along with the price of Bitcoin and have been linked to a constant number of digital coins for years, or at least more or less so.

However, since May 8th of this year, a new crypto wallet has started, first with an amount of several hundred million dollars, which immediately put the mysterious new player in the 59th place among the largest crypto wallets. But then, the unknown entity started buying more Bitcoin ever since, to now become the third largest Bitcoin wallet. His stash of Bitcoin has now risen to a value of $3 billion.

The entire course of the new investor can be neatly followed.

The wallet is still anonymous, but crypto commentators did note that Blackrock, the largest asset manager in the world, submitted an ETF application a month after the wallet was created.

Blackrock has a net worth of, wait for it, some $9 trillion (or $9 trillion US dollars), making it a competitor to countries like China or the United States when it comes to investing decisions.

However, that also means that in recent months there has only been one major buyer for Bitcoin, and that is the anonymous wallet. If it’s indeed Blackrock and their ETF gets approved, they’ll probably win a few hundred million dollars in one day. If Bitcoin crashes or their ETF does not gain approval, they’ll probably lose the same amount.