Who Really Owns the Mysterious Wallet with 118,000 BTC?
In the past 90 days, a wallet has amassed more than 118,000 BTC, becoming the third largest holder of Bitcoin. Speculations about the true owner of the mysterious wallet have divided the community into two main camps.
Main Breakdowns:
- Some believe that Gemini, led by the Winklevoss twins, is the owner of the wallet.
- Others suggest that BlackRock, a major asset management company, might be behind it.
- The wallet started accumulating Bitcoin on 8 March 2023 and quickly became the third largest holder of BTC.
- Data shows that the wallet currently holds around $3.09 billion worth of BTC, trailing behind Binance and Bitfinex.
- Gemini has emerged as a potential contender as it is speculated to have transferred BTC to the wallet.
Prominent Chinese crypto reporter Colin Wu has also mentioned the possibility of Gemini’s involvement.
The BlackRock speculation arises due to a significant transaction on the wallet’s address a month before the company applied for a spot Bitcoin ETF. If approved, this would be the country’s first product of its kind.
While there is no solid proof linking BlackRock to the wallet, the speculation remains. If true, it could benefit the company.
Hot Take:
The mystery surrounding the ownership of the wallet with 118,000 BTC has led to intense speculation within the crypto community. Whether it is Gemini or BlackRock, the true owner remains unknown. The potential impact of a spot Bitcoin ETF approval on the market adds another layer of intrigue to this story. As the crypto world eagerly awaits more information, the debate continues.
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