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An unknown wallet has accrued more than $3 billion worth of Bitcoin in the last three months, sparking a wave of theories about the potential owner.

A mysterious Bitcoin wallet has surged up the ranks to become the third-largest holder of Bitcoin (BTC) in the world in just over three months, with the timing sparking some wild theories about its owner.

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 mysterious wallet has accrued 118,000 BTC in less than four months. Source: BitInfoCharts*

The rapid and significant accrual of Bitcoin within a single wallet address has attracted its fair share of conjecture.

Some users suggest it’s most likely a crypto exchange moving funds, while some more radical members of Crypto Twitter have posted a more wild theory — suggesting BlackRock is the “prime suspect."

This unknown address has accumulated over $3 Billion worth of #Bitcoin in the last 3 months.

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
— DivXMaN (@crypto_div) August 21, 2023

The theory is not based on any solid evidence, however, others have shared their support it by posting pictures of a large black rock.

The current largest Bitcoin wallets in the world, according to BitInfoCharts, are reportedly owned by Binance and Bitfinex — as Bitcoin cold wallets.

The unknown Bitcoin whale wallet comes in third place, and is then followed by another Binance cold wallet in fourth place.

BlackRock made waves in the crypto market on June 15 when it filed an application for a spot Bitcoin ETF product which — if accepted by the Securities and Exchange Commission — will be the first of its kind in the United States.

BlackRock’s application sparked a wave of filings for similar spot products from a horde of other Wall Street heavyweights, including Fidelity, Invesco, Wisdom Tree and Valkyrie.

The prospect of a spot Bitcoin ETF whipped crypto analysts into a frenzy, sharing their bullish predictions for the price of Bitcoin — with Fundstrat’s head of research, Tom Lee suggesting that Bitcoin could reach a price of $150,000 per coin following the halving event in April 2024.

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Satoshi-Era Bitcoin (BTC) Wallet Abruptly Wakes Up After Sitting Dormant for Nearly 13 Years

August 16, 2023 The Daily Hodl

Sleeping Bitcoin wallet stirs after 11 years, moving over $30M

July 24, 2023 Coin Telegraph

Sleeping Bitcoin wallet stirs after 11 years, moving over M

Bitcoin address

The anonymous Bitcoin whale is up over 600,000% from their 2011 purchase of BTC at $4.92.

A dormant Bitcoin (BTC) wallet holding over 1,037 Bitcoin — worth $31 million at current prices — has suddenly awoken after an 11-year slumber, transferring out its entire stash.

The 1037 BTC was transferred amid a Bitcoin price of $29,956 and took effect at block height 799701 — approximately 10:51 am UTC on July 22, according to BitInfoCharts.

The long-dormant address obtained the 1,037 BTC on April 11, 2012, when BTC's price was only $4.92, on-chain analytics platform Lookonchain stated on July 22. This means at the time, the stash was only worth around $5,108.

A BTC whale that has been dormant for 11 years transferred all 1,037.42 $BTC($37.8M) to a new address"bc1qtl" an hour ago.

The whale received 1,037.42 $BTC($5,107 at that time) on Apr 11, 2012, when the price was $4.92.https://t.co/k8ZmO5vc8X pic.twitter.com/xBaw2dQfY8
— Lookonchain (@lookonchain) July 22, 2023

Data from blockchain aggregator Blockchair shows that wallet address “bc1qt180…” — which appears to be a fresh wallet — was the recipient of the $31 million.

The balance of the original Bitcoin wallet peaked at $71.6 million when BTC reached its all-time high price of $69,044 on November 10, according to cryptocurrency price platform CoinGecko.

The United States government has been one of the biggest BTC movers of late, having transferred out nearly 10,000 BTC — worth $299 million — out in a series of transactions on July 12 in relation to the Silk Road seizure.

It isn’t clear whether the transactions were sent to cryptocurrency exchanges or if it remains in the custody of the Justice Department.

More mysterious wallet movements

On June 11, another mysterious Bitcoin whale moved 1,400 BTC — worth $36 million at the time — to a Pay-to-Taproot (P2TR) address. CryptoQuant CEO Ki Young Ju believes the motive behind this transaction may have been to enhance privacy.

Earlier in April, another Bitcoin address transferred 2,071 BTC — worth $60 million — nearly 10 years after catching BTC at $663, according to Lookonchain.

Three months earlier, a massive $250 million transfer of 26,056 BTC was made by another Bitcoin address. At BTC’s all-time high, the wallet was worth more than $1 billion.

Despite a few high-value transfers, over 55% of BTC hasn’t moved in over two years, according to a chart by on-chain analytics firm Glassnode, which was shared by cryptocurrency researcher Will Clemente:

Dormant Bitcoin is the best #Bitcoin
By @WClementeIII
https://t.co/RwcCWOdIod
— Miklos Denkler (@MiklosDenkler) July 23, 2023

BTC is currently priced at 30,082. While Bitcoin's price has increased 81.8% in 2023, it is still down 56.4% from its all-time high in November 2021, according to CoinGecko.

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bitcoin whale