The mysterious Bitcoin wallet that surged up the ranks to become the third-largest holder of Bitcoin (BTC) in the world in just over three months, has been identified.
According to data from crypto statistics platform BitInfoCharts, the wallet address first received Bitcoin on March 8. Over the course of the next three months and two weeks, the wallet had accrued a staggering 118,000 BTC — worth $3.08 billion at current prices.
The rapid and significant accrual of Bitcoin within a single wallet address attracted its fair share of conjecture at the time.
Some users suggested it was most likely a crypto exchange moving funds, while some more radical members of Crypto Twitter posted a more wild theory — suggesting BlackRock was the prime suspect.
This unknown address has accumulated over $3 Billion worth of #Bitcoin in the last 3 months.
— DivXMaN (@crypto_div) August 21, 2023
The prime suspect?
The first major transaction of 3400 BTC occurred on May 16th 2023. Almost exactly 1 month later on June 15th 2023, BlackRock filed for it's spot #Bitcoin ETF. pic.twitter.com/TdFuUkELuH
The theory is not based on any solid evidence, even though many shared their support of it by posting pictures of a large black rock.
Related: First EU spot Bitcoin ETF hits Euronext Amsterdam exchange
The mystery appears to now be solved, however, with blockchain intelligence platform Arkham Intelligence labeling the wallet as Robinhood: Jump Trading Custody.
The current largest Bitcoin wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin cold wallets.
The Robinhood wallet comes in third place, and is then followed by another Binance cold wallet in fourth place.
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Update (Aug. 23, 11:00 pm UTC): This article has been updated to include the latest information from Arkham Intelligence.