According to Arkham Intelligence, the “unknown” address that accumulated more than $3 billion worth of Bitcoin in the last 3 months, becoming the third largest Bitcoin wallet, belongs to Robinhood Markets Inc.
Arkham Intelligence is a blockchain analytics firm that tracks the flow of cryptocurrency. The firm said that the address in question has been linked to Robinhood through a number of factors, including the timing of the transactions and the wallet’s IP address.
Robinhood is a popular cryptocurrency trading platform that allows users to buy and sell Bitcoin and other cryptocurrencies. The company has not yet commented on the Arkham Intelligence report.
The accumulation of Bitcoin by Robinhood is a significant development in the cryptocurrency market. It suggests that the company is bullish on Bitcoin and sees it as a long-term investment. It could also lead to increased demand for Bitcoin from other investors.
A boost for BTC price
The news is also likely to boost the price of Bitcoin. The cryptocurrency has been struggling in recent months, but the news of Robinhood’s investment could give it a much-needed boost.
It is important to note that Arkham Intelligence’s report is not definitive proof that the “unknown” address belongs to Robinhood. The company has not yet commented on the report, and it is possible that the address belongs to another entity.
However, the report is credible and the evidence is strong. It is likely that the address does belong to Robinhood, and this is a significant development in the cryptocurrency market.