Robinhood is owner of the wallet with over $3 billion in Bitcoin



Robinhood Markets, Inc. turns out to be the owner of the “mysterious” crypto-wallet, which has accumulated over $3 billion in Bitcoin in just 3 months

This was apparently revealed by the results obtained on the cryptocurrency analysis platform and blockchain data tracking dashboard, Arkham Intel, which however, has not published anything about it. 

Robinhood and its crypto wallet with over $3 billion in Bitcoin (BTC)

Over the past few days, there has been nothing but talk about who might own the crypto-wallet that in just 3 months has amassed well over $3 billion in Bitcoin

And today, it seems that the fateful name has been revealed: Robinhood Markets, Inc, the trading platform for stocks, ETFs and also cryptocurrencies. 

Of course, it wasn’t Robinhood reporting this, but the crypto analytics and blockchain data tracking dashboard platform, Arkham Intelligence, which showed this result after a user entered the known information. 

Thus, the news might be correct, but it sounds strange that Arkham itself did not share the result with its followers on X (Twitter) as the crypto-community went wild on the social network. 

Robinhood has been identified as the owner of the third largest Bitcoin wallet

This crypto wallet with over $3 billion in BTC had caused a stir, as it managed to climb the list of the largest Bitcoin owners globally in just a few months, placing third. 

The controversy and suspicion about such a wallet, came because of its anonymity. And indeed, a few days ago, someone had claimed that BlackRock was the owner

This is because, by analyzing the transactions that took place with the wallet, it appears that on 16 May 2023, the address would have received 3400 BTC, and just a month later, BlackRock submitted its application for an ETF on Bitcoin

Yesterday, however, these suspicions dropped because other news from the crypto world saw Gemini’s crypto-exchange as the owner and not BlackRock 

This was said by Wu Blockchain, who pointed out that some transfers from the US exchange platform dated 3 months ago had as their recipient precisely the address that now totals a $3 billion balance sheet. 

Instead, it appears that the owner is Robinhood Markets, Inc

The price of BTC

At the time of writing, BTC is worth $26,432 and is still in a -10 percent dump from last month

In fact, looking at the chart, Bitcoin had managed to hold $29,000-$30,000 in the period from early June to mid-August. After that, the price dropped. 

Widening the time period of the price of BTC even further, it is easy to see that the queen of crypto has been below $30,000 since March 2022

Despite these results, there are those who remain optimistic, also calculating that next year, Bitcoin will experience the halving, which usually has led to a speculative bubble on its price the following year. 

Adam Back, CEO of Blockstream, published his prediction that Bitcoin will exceed $100,000 before the halving.