Langsung ke konten utama

Bitcoin Whale Soars to 72nd Rank in 2 Weeks, Gathering Over 10,000 BTC Amid ETF Buzz

This week, observers in the crypto sphere have kept a close eye on a notable bitcoin whale address, which impressively climbed from the 492nd spot to become the 72nd largest bitcoin holder in a mere fortnight. This substantial addition of over 10,000 bitcoin occurs amidst widespread speculation about how exchange-traded funds (ETFs), such as Blackrock, will procure bitcoin, with some conjecturing that their acquisition might be through direct purchases from miners.

Mystery Whale Wallet Rockets to Top Bitcoin Ranks

Blockchain data reveals that the bitcoin wallet labeled “bc1qc” has rapidly amassed a significant number of bitcoins in a brief time span. This address has become a hot topic on social media platforms, with numerous discussions and posts scattered across X, highlighting the emergence of this new whale.

Initially spotted on October 31, 2023, the wallet made its first move by acquiring 109.81 BTC, and then, after just ten days, it expanded its cache by adding 736.69 BTC. By the middle of November, this wallet had ascended to become one of the top 500, securing the 492nd rank.

Advancing to the present day, this bitcoin whale wallet now ranks as the 72nd largest globally. On November 28, 2023, it added to its growing collection with two separate deposits of 163.67 BTC and 376.28 BTC. Currently, the wallet’s total holdings stand at approximately 10,393.22 BTC, valued at about $397 million based on the prevailing exchange rates.

Notably, this address remains unmarked and unidentified on blockchain explorers like Arkham Intelligence and OXT, keeping the entity behind it shrouded in mystery, although it continues to be under close observation. The emergence of this new whale coincides with a period rife with conjecture and hypotheses, particularly around the possibility of miners selling their bitcoin to financial institutions that are rolling out spot bitcoin ETFs.

These institutions are poised to require substantial quantities of bitcoin (BTC) to spark sufficient interest in their funds. It’s speculated that ETF managers might already be procuring BTC from miners through over-the-counter (OTC) transactions, aiming to prevent the spot market from being impacted by such sizeable BTC acquisitions. As a result of this speculated trend, whale wallets like “bc1qc” could seemingly materialize unexpectedly.

What do you think about the bitcoin whale address acquiring more than 10,000 bitcoin over the past two weeks? Let us know in the comments section below.



source https://news.bitcoin.com/bitcoin-whale-soars-to-72nd-rank-in-2-weeks-gathering-over-10000-btc-amid-etf-buzz/
Label:

Komentar

Posting Komentar

Postingan populer dari blog ini

Spanish Treasury Secretary Says Cryptocurrencies Carry a ‘Risk of Default’, Repeats Bank of Spain’s Lack of Regulation Rhetoric

The government of Spain continues to harden its stance against widely adopting cryptocurrencies. The Spanish Secretary of State for the Economy recently expressed her concerns on risks that she thinks cryptos possess for the national economy. Secretary Doesn’t Like Bitcoin as It Cannot Be ‘Supervised or Sanctioned’ During the Online Fintech Summit 2021 , Ana de la Cueva said that cryptocurrencies such as bitcoin ( BTC ) carry “a risk of default, given that the user does not have the protection offered by traditional payment systems against a default by the counterparty.” In fact, the Secretary blasted off on the lack of a “centralized guarantee system” in bitcoin. Interestingly, at the beginning of her speech, De La Cueva mentioned that the cryptocurrency’s technology is based on blockchain. However, she later pointed out that there is no standard “clarity” on the nature of bitcoin. The Secretary repeated the same rhetoric of Spanish state entities on crypto assets, saying that th...
Posting Komentar
Baca selengkapnya

Barry Silbert Resigns as Chairman of Grayscale Investments

Digital Currency Group (DCG) founder Barry Silbert has resigned from his position as the chairman of Grayscale Investments. Current DCG chief financial officer Mark Shifke succeeds Silbert and is joined by Edward McGee and Matthew Kummell as members of the new look board. Preparing for Grayscale’s Next Chapter Barry Silbert, the founder and CEO of Digital Currency Group, has resigned from his position as chairman of the digital asset management company Grayscale and will be replaced by Mark Shifke. According to the company’s filing with the Securities and Exchange Commission (SEC), starting Jan. 1, 2024, Grayscale’s board will be composed of Mark Shifke, Matthew Kummell, and Edward McGee. Current Grayscale Investments CEO Michael Sonnenshein is also a board member, while Mark Murphy, the president of Digital Currency Group (DCG), departs alongside Silbert. Commenting on the changes to the board, an unidentified Grayscale spokeswoman reportedly said: “Grayscale and our investors ...
Posting Komentar
Baca selengkapnya

48 US Lawmakers Ask SEC Chair Gensler to Clarify Whether ETH Is a Security — Warn of ‘Negative Repercussions’

Forty-eight U.S. lawmakers have sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler asking him to clarify whether ether is a security. “The negative repercussions of the SEC implicitly or directly classifying ETH as a digital asset security will cascade throughout the digital asset marketplace both in the short and long […] source https://news.bitcoin.com/48-us-lawmakers-ask-sec-chair-gensler-to-clarify-whether-eth-is-a-security-warn-of-negative-repercussions/
Posting Komentar
Baca selengkapnya