The Richest Non-Exchange BTC Wallet Is Still Accumulating Bitcoins

The third largest Bitcoin whale bought 3,529 bitcoins worth $67 million in June. This is according to data available at BitInfoCharts. It shows that from June 8 – 29, that the whale added a total of 3,529 BTC, bringing its total to 132k bitcoins.

13 BTC Transactions in June

The detail shows that the owner of the wallet added the coins in 13 transactions.

On June 8, the owner bought 300 BTC at $9.3 million. It added 425 BTC on June 14 at $9.5 million. 488 BTC at $10.6 million on June 15. The following day, June 16, they acquired 214 BTC at $4.8 million. On June 17, they added 305 BTC at $6.2 million while 266 BTC was added on June 18 at the value of $5.4 million.

565 ($11.3 million) and 255 BTC ($5.3 million) were added on June 22 and 23 respectively.Then on June 24, 28 and 29, the address added 36 ($769k), 360 ($7.4 million) and 815 BTC ($16.5 million) respectively.

Whale transactions

Still Accumulating in July

The wallet is still accumulating bitcoins in July. On July 1 and 2, the owner bought 601 ($11.3 million) and 186 bitcoins ($3.4 million) respectively.

Currently, the total amount of bitcoins held by the address is  132,189.5 BTC. Its market value is currently $2.5 billion. The wallet’s first Bitcoin deposit was made on February 6, 2022. In the current bear market, the losses incurred by the owner is $410 million.

This address is the only non exchange wallet among the top three whale addresses. In their reaction to the activity of the whales still accumulating bitcoins, a user on Twitter, @0III62041407 said,

“If they keep accumulating BTC will get useless. Suddenly all BTC would be with whales and shitty companies like the one from Savior. No use cases and no interest for the rest of society.”

Another user, @wallstreetdebt used this analogy:

If monkey collect all bananas in the world, monkey give banana value because there are no more bananas for other monkey. – real life example- the diamond industry.

Like Fiat Like Crypto

@yyyyaoyyyao added that if this is the scenario, that BTC would be worse off for it since to the monkeys, bananas could be a priority more important than Bitcoin could be to people. @sheepdog315 said that if whales own most of the BTC in circulation, they may end up acting like banks. To which Stack Sats @BTC_Only_83 disagrees saying that whales are in no position to add to the supply.

The richest own most of the dollars in this country…

@Joecool2005

Bitcoin is currently trading at $19,273, down by 8.63% in the past 7 days. A loss of 1% in the past 24 hours. The coin is worth less than one-third of its value last November when it reached its all-time-high.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.

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