Who Owns the World's Third Largest Bitcoin Wallet?

A newly created wallet address has quietly amassed Bitcoin worth $3 billion over the past few months, making it the third largest whale wallet in the world after Binance and Bitfinex. So, who is the owner of this wallet?

Who Owns the World's Third Largest Bitcoin Wallet?

Over the past three months, an anonymous whale has accumulated $3 billion worth of Bitcoin, elevating this wallet to the third largest BTC holder globally. This has sparked intense curiosity within the community about the identity behind this significant wallet.

According to BitInfoCharts data, the first transactions were executed on May 9, 2023. Over the subsequent three months, the wallet's owner steadily accumulated Bitcoin, increasing their holdings to 118,300 BTC by August 28.

Wallet address holding the third largest Bitcoin holdings globally. Source: BitInfoCharts

With a value of $3 billion, this wallet now holds the third largest amount of Bitcoin globally, trailing only Binance and Bitfinex with values of $6.4 billion and $4.3 billion, respectively.

Arkham Intelligence suggests that this wallet belongs to Robinhood, a financial trading platform long involved in the crypto market. Arkham appears confident in its assertion, not only labeling but also providing links to Robinhood's website and social media on this wallet address.

Source: Arkham

In discussions with CoinDesk, Arkham further revealed that Jump Trading is responsible for monitoring and custodianship of these Bitcoins on behalf of Robinhood.

However, not everyone agrees with Arkham's conclusion.

Market observer Wu Blockchain suggests that Gemini Exchange is the true owner of this wallet. However, it's unclear on what basis Wu made this assessment.

Meanwhile, many in the community lean towards BlackRock as the likely owner.

Citing BlackRock's recent application for a Bitcoin ETF and positive comments from its CEO about Bitcoin, there is speculation that the world's leading asset management firm has quietly accumulated BTC.

Of course, these names are speculative and have not been verified. Even though Arkham has labeled the wallet address as belonging to Robinhood, doubts persist within the community regarding the accuracy of this information. Previous incidents where Arkham incorrectly labeled addresses leading to market fluctuations due to false alarms about large institutional BTC transfers add to the skepticism.

Therefore, we can only wait for the actual owner of this wallet to step forward.

What are your thoughts? Who do you predict is the owner of the world's third largest Bitcoin whale wallet?