The largest secret Bitcoin wallet has just been emptied. But where did the money go?
The largest Bitcoin wallet that belongs to an unknown entity or individual has recently moved 101,857 BTC, worth just over $ 933 million (more than $ 5 billion). The transfer was first noticed by the automated cryptocurrency tracking service “Bitcoin Block Bot” on June 27.
And for that glaring transaction, the mysterious owner of the wallet paid only $ 0.48 in fees.
Whale alert! 🐋 Someone moved 101,857 BTC ($ 933M) in block 636,503 https://t.co/sy099uLVBV
– Bitcoin Block Bot (@BtcBlockBot) June 26, 2020
The address was documented as the richest among non-exchange BTC portfolios (exchanges) in April, when it held 0.55% of all Bitcoin existing at the time. And even when compared to the main exchanges, it came in third place – behind Huobi and Binance.
Although the funds belonging to the exchanges are comprised of client funds, it is not clear who actually owns Bitcoin at this address. It is possible that it may also be an exchange portfolio or belong to large Bitcoin investors, such as the Winklevii.
(After contacting a Reddit user, Decrypt pointed out that the wallet belongs to BitStamp through the BitGo custody platform. However, when contacting the two companies, Debra Bar, BitGo’s director of marketing, said: “Thank you for contacting us. For privacy reasons, we are unable to verify customers or their addresses.”)
The funds were sent to more unknown portfolios. According to Blockchain.com, the recent $ 933 million transaction was split between two portfolios anonymous receipt. The first received 5,000 BTC (US $ 45.8 million), while the remainder received 96,857 BTC (US $ 887.4 million). The largest wallet is now the second largest Bitcoin wallet, according to BitInfoCharts. It follows only Huobi’s cold wallet.
The original portfolio was financed for the first time on April 1 of this year – through a very similar transaction – and very little of its Bitcoins had been moved so far. Perhaps the responsible investor wants to change his Bitcoins to a new portfolio every few months. But why?