A secret Bitcoin address is hoarding BTC as the race continues to new all-time highs. According to data from Bitinfocharts, Whale Wallet now holds over 54,164 BTC—worth $3.2 billion.
A “whale” is an investor who accumulates large amounts of cryptocurrency. Due to the size of their bitcoin holdings, whale activities attract a lot of attention among blockchain surfers, especially on crypto Twitter.
In April, a wallet from the early days of Bitcoin moved more than $11 million in BTC after a 12-year hibernation. That same week, another Bitcoin wallet moved $8 million in BTC after a decade of inactivity. Another Bitcoin Well made waves in November after analysts discovered a wallet holding $450 million in Bitcoin.
This whale, “Mr. 100”, it may not be a single investor – it could be an investment fund or one of the big banks behind the many existing Bitcoin ETFs.
“It's definitely possible, but I'd say unlikely,” Amberdata research director Chris Martin told Decrypt. “All EFAs have publicly shared their addresses, so it would be strange to me if they didn't.”
According to Amberdata, the wallet has been storing bitcoins since November 2022 using Binance and KuCoin.
Martin doesn't see the Biden administration behind his address as the U.S. government amasses a massive bitcoin hoard estimated to be worth more than $12 billion. A telling note: The digital assets come from Binance and KuCoin.
“It might be safer to take out an American entity or bank,” Martin said. “I wouldn't be surprised if it was some sort of fund.”
Hong Kong is said to be submitting 31 applications for crypto guardians.
Martin also said he doesn't believe the wallet is loading to prepare for the upcoming Bitcoin halving in April.
“I won't say no – instead of collecting tokens for a certain event, you can support the price improvement,” he said.
“I think it's interesting that they get about the same amount of 100 BTC in total on each transaction,” Martin added. “Why they chose 100 BTC is beyond me… maybe they have limited funds.”
In “Mr. A 100-inch whale remains, sentiment in the cryptocurrency market is riding high, and the myriad of components loading up on Bitcoin suggests that the bull market is indeed back in action.
Edited by Ryan Ozawa.
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