How Does Bitcoin Wallet Make $3 Billion In 3 Days?

A new Bitcoin wallet has amassed a massive crypto fortune after collecting more than $3 billion worth of BTC in less than one week.

Mysterious Bitcoin wallet

Data from BitInfoCharts reveals that the whale address has gobbled up 132,877 BTC, worth about $3 billion at time of writing, in just three days – between July 19th and July 21st of 2022.

The wallet, which was created on June 15th, picked up 15,499 BTC for a total of $345.9 million on July 19th. The next day, the deep-pocketed investor ramped up the Bitcoin transfers to the tune of 45,499 BTC for a purchase price of $1.06 billion. On the last day, the whale received 71,879 BTC with a price tag of $1.64 billion.

Looking at the high-net-worth investor’s transaction history, BitInfoCharts shows that a large chunk of the whale’s Bitcoin came from a specific Coinbase wallet while the rest of the BTC mostly came from a wallet that was previously labeled as the richest non-exchange Bitcoin whale.

The former wealthiest Bitcoin whale had a balance of 132,883 BTC earlier this month before the entity abruptly emptied the wallet’s content from July 19th to July 21st. The whale then sent the Bitcoin stack to either the same Coinbase wallet or to the wallet that now holds the richest non-exchange Bitcoin whale title.

Although there’s a connection between the crypto wallets, the reason why the whale moved the funds is unclear. The whale may be moving the BTC stack for security reasons or to facilitate a direct, over-the-counter sale.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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