Did Elon Musk Buy $3 Billion in Bitcoin? Cryptic Bitcoin Wallet Jumps to Third Highest BTC Holder in Just 3 Months

Over the past three months, an unfamiliar wallet has amassed over $3 billion in Bitcoin, triggering a flurry of speculations regarding the possible proprietor.

In a span of slightly more than three months, an enigmatic Bitcoin wallet has swiftly risen to claim the position of the world’s third-largest Bitcoin holder. The abrupt surge has ignited unconventional conjectures about the individual behind it.

Based on information provided by the crypto analytics platform BitInfoCharts, the wallet’s initial receipt of Bitcoin dates back to March 8th. Within the subsequent three months and fourteen days, the wallet amassed an astonishing 118,000 BTC, equivalent to a substantial $3.08 billion at present valuations.

The swift and substantial accumulation of Bitcoin within a solitary wallet address has stirred speculation and intrigue.

Certain users propose that it’s probable the result of a cryptocurrency exchange transferring assets, while more daring individuals within the Crypto Twitter community have put forth an audacious idea – hinting that BlackRock could be considered a “primary contender.”

Although the theory lacks concrete evidence, some have endorsed it by sharing images of a substantial black rock.

As indicated by BitInfoCharts, the most sizable Bitcoin wallets globally are supposedly in the possession of Binance and Bitfinex, serving as Bitcoin cold wallets.

The enigmatic Bitcoin whale’s wallet stands in the third position, closely trailed by another cold wallet linked to Binance in fourth place.

BlackRock caused a stir within the cryptocurrency market on June 15th by submitting an application for a spot Bitcoin ETF product. This initiative, if approved by the U.S. Securities and Exchange Commission, would mark a pioneering step in the United States.

BlackRock’s move triggered a flurry of similar filings for spot products from a host of other prominent entities on Wall Street, including Fidelity, Invesco, Wisdom Tree, and Valkyrie.

The anticipation of a spot Bitcoin ETF generated immense excitement among crypto analysts, who eagerly shared their optimistic forecasts for Bitcoin’s price. Tom Lee, Head of Research at Fundstrat, went so far as to propose a potential price surge to $150,000 per coin after the halving event in April 2024.