The mysterious whale collects R$8 billion worth of Bitcoin in one year, but no one knows who it is

An address with 38,837 bitcoins is receiving attention from the community due to his recent activities. The amount is equal to more than R$8 billion and wallet identity started just over a year ago, in November 2022.

Since December 1, 2023, approximately 2,100 bitcoins have entered the wallet in several transactions of just over 100 BTC. Currently, this is the 16th largest Bitcoin address in the world.

Mysterious whale received several transactions of ~100 bitcoins in recent days.  Source: BitInfoChart.
Mysterious whale received several transactions of ~100 bitcoins in recent days. Source: BitInfoChart.

On social media, other investors are trying to find out who the mysterious investor or entity is behind the address. Some suggest it is Michael Saylorothers point out Such a large portfolio can only belong to one broker.

Be that as it may, the comments are nothing more than speculation. The data on the chain is also superficial, showing links to various addresses, but without revealing any substantive clues.

Transaction flow from address 1Ay8vMC7R1UbyCCZRVULMV7iQpHSAbguJP, which collects 38,837 bitcoins (R$8 billion).  Source: Arkham.
Transaction flow from address 1Ay8vMC7R1UbyCCZRVULMV7iQpHSAbguJP, which collects 38,837 bitcoins (R$8 billion). Source: Arkham.

The mysterious whale has been active since FTX went bankrupt

One of the first transactions at the address is a deposit of 10,309 bitcoins on November 4, 2022. Two days before this move, Alameda Research was accused of being insolvent, a fact that led FTX to a rush of withdrawals and bankruptcy in the following days .

Another assumption is therefore that the mysterious wallet is linked to FTX.

According to data published by the broker’s new management, as of mid-September FTX had $560 million worth of Bitcoin, as well as other cryptocurrencies that would be sold to pay back its former clients. Moving on, FTX cryptocurrencies were also found at other brokers throughout the year.

Therefore, this would justify the intense flow of deposits at the address that could belong to FTX. However, the theory is weakened by the fact that former FTX employees could have access to this wallet, as it was created before Sam Bankman-Fried left the company. Moving on, the address also has some outgoing transactions.

The mysterious whale has collected more than 38,000 bitcoins (R$8 billion) in the past year.  Source: Blockchain.
The mysterious whale has amassed more than 38,000 bitcoins (R$8 billion) in the past year. Source: Blockchain.

Therefore, the identity of this mysterious whale remains a mystery and a testament to the power of Bitcoin’s pseudo-anonymity. Another mysterious address collected 118,300 bitcoins (R$24.5 billion) in a few months and so far no one can say to whom the fortune belongs.

Source: Live Coins