Unknown Bitcoin Wallet Accumulated 3 Billion USD Worth BTC

Newly made bitcoin wallet was connected to the former richest non-exchange bitcoin wallet. 

Cryptocurrencies across the global crypto market have only wrapped up with trading at their recent lows. This week brought some comfort for crypto investors, when crypto assets like bitcoin (BTC), ethereum (ETH), etc. have seen slight surge in their prices. Bitcoin is at around 21K USD.

Amidst all these ups and downs, crypto market observers witnessed some unusual activity. This came out when an all new bitcoin wallet was seen accumulating BTC. On a normal day, it might not be any significant instance, after all what else a bitcoin wallet does other than collecting bitcoin. However, the reason for which this transaction got the eyeballs is due to its massive amount, which is—3 billion USD worth BTC—in just a short span of three days. 

As reported by a crypto assets information collector, it found out that the newly formed bitcoin wallet address overall received 132,877 bitcoin. The transaction of this whole stack of BTC was done in the time window between 19th to 21st July, 2022. The bitcoin wallet itself was created on 15th June, 2022. 

Bitcoin wallet secured its first massive transaction on 19th July, when it accumulated 15,499 bitcoin—worth 345.9 million USD, at the time of buying. The very next day, the whale again picked up bitcoin but this time was quite a lot more than previous one. On 20th July, a purchase of 45,499 BTC was made, that totals for 1.06 billion USD. The last activity was reported on 21st July, when the whale wallet gained 71,879 bitcoin that is equivalent to 1.64 billion USD. 

More information was also found in the report, related to the transaction history of the wallet owner. This shows that out of the entire received amount of bitcoin, a significant portion belonged to an account of Coinbase. While the rest of bitcoin came from a wallet, who’s holder was known to be the richest bitcoin whale account, in non-exchange space. 

During further investigation, the connection was found in the timing of the instance of the richest non-exchange wallet getting empty and receiving of bitcoin the a newly made wallet. However, after this transaction and with a staggering amount of bitcoin, the nascent whale account was designated as the richest non-exchange bitcoin wallet. 

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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