Bitcoin News

Mega Whale Wallets Dormant Since 2018 Abruptly Add $841,000,000 in BTC Over the Weekend

A collection of Bitcoin whale wallets suddenly scooped up tens of thousands of BTC over the weekend after being inactive since December of 2018.

According to BitInfoCharts’ list of the biggest Bitcoin wallets, all addresses ranked 89 through 106, except rank number 90, accumulated a total of 28,377 BTC worth $841.85 million on July 17th and July 18th in a synchronized manner.

 

All 17 wallets previously had exactly 8,000 BTC before accumulating more over the weekend. Four wallets received BTC inflows at the exact time on July 18th. Another four addresses collected BTC at the same time on July 17th, and three other wallets added BTC simultaneously at a later time on the same day.

Wallets ranked 95 all the way to 102 all accumulated exactly 1,661 BTC, while three other wallets added 1,693 BTC, and another three accumulated 1,639 BTC.

The uniformity of the purchases, plus the fact that each wallet had been dormant for the same amount of time, suggests that the whale addresses are a single entity though this is unclear.

At time of writing, the combined wallets hold a total of 164,337 BTC, worth nearly $5 billion, eclipsing the largest public holding of Bitcoin in MicroStrategy’s treasury.

On-chain analyst Will Clemente recently said that crypto whales had been heavily accumulating Bitcoin since May and that a supply-side crisis is now in play.



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