A hitherto unknown Bitcoin wallet has, within a span of three months and two weeks, vaulted into becoming the world’s third largest with a whopping 118,000 BTC in its possession. The wallet, whose first recorded Bitcoin arrived on March 8, is presently valued at approximately $3.08 billion. The speedy aggregation of such a hefty amount of Bitcoin in one wallet has sparked speculation among analysts and crypto enthusiasts alike.
While some argue that a crypto exchange moving funds is the most likely explanation, a more unconventional theory has also emerged. Some members of the cryptocurrency community suggest possible involvement of BlackRock, an American global investment management corporation, though this theory rests on no substantiated evidence. Popular opinion leans into the idea, with supporters expressing their favor through symbolic images of a large black rock.
As it stands, the biggest Bitcoin wallets globally are understood to be owned by Binance and Bitfinex, performing the role of Bitcoin cold wallets. The newly prominent and still anonymous Bitcoin wallet comes third, followed by another Binance cold wallet in fourth place.
In related news, BlackRock has been making ripples across the crypto-market. On June 15, the corporation generated buzz by filing for a Bitcoin exchange-traded fund (ETF). If approved by the Securities and Exchange Commission, it would be the first of its kind in the United States. This move set off a number of similar filings by other financial behemoths like Fidelity, Invesco, Wisdom Tree, and Valkyrie. The potential reality of a Bitcoin ETF has sparked excitement amongst crypto-analysts. Predictions hint at a significant surge in the price of Bitcoin, with Fundstrat’s head of research, Tom Lee envisioning the possibility of Bitcoin reaching $150,000 per coin post the halving event in April 2024.