Analyzing 6 of the Wealthiest Bitcoin Cash Wallet (BCH) Addresses

Bitcoin Cash is the world’s fourth largest cryptocurrency by market cap. Over a year after the hard fork, BCH continues to push forward. A planned November upgrade could increase BCH transaction capacity to 128MB per block, opening the door for massive on-chain scaling – something the BTC side has not yet been able to achieve.

One of the neat things about bitcoin is that it’s a public network. You can view wallet addresses on the BTC or BCH network and see which addresses hold more BCH than others. Crypto Analyst JP decided to analyze the Bitcoin Cash network to determine which wallets were holding more BCH than others. JP published the results online today in an article called, “Top 6 Most Valuable Bitcoin Cash Wallet Addresses.”

6) The $48 Million Wallet With No Movement Since November 2017

One Bitcoin Cash wallet holds 101,000 BCH. You can view that wallet here: 13trzcocngHQdEzRGjyqoSYNva17BMaJKt. That wallet hasn’t been active in months, which suggests it’s not a very active BCH user. Typically, an inactive wallet raises questions: why is the person holding such an enormous sum of BCH? Is it an exchange wallet that just isn’t moving its coins around? What’s going on here? The last transaction on the $48 million wallet dates back to November 4, 2017, when the price of BCH was $627.72.

5) The $55 Million Wallet That Has Never Sent BCH to Anyone

Another $55 million wallet holds about 115,000 BCH. That wallet can be found here: 1EeBbBiJGvVzemoLodsrZxv9sEKq1dz1KT. The wallet is about as active as the $48 million wallet: there are few transactions to or from this wallet, and there’s no recent activity within this wallet. The $55 million wallet has received even fewer transfers than the address above. The last transaction occurred on March 3, 2018, when the wallet received a tiny sum of 0.00000789 BCH. Prior to that, the last transaction occurred on November 12, when the wallet received 114,746 BCH. To date, the wallet has never sent any amount of BCH to any address.

4) The $60 Million Wallet With Transactions that Pre-Date Bitcoin Cash

The wallet values keep growing as we move further down the list. JP spotted the $60 million wallet with 124,000 BCH at 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy. That wallet, again, has limited transaction movement over the past year. The last transaction occurred on August 18, 2017, just 2.5 weeks after the launch of Bitcoin Cash. Prior to that, the last transactions in the wallet occurred in September, October, and November of 2016, long before BCH was proposed and nearly a year before the launch of BCH. JP describes this as “a bit odd”.

3) The $64 Million Wallet with Frequent Transaction Movements

The third richest Bitcoin Cash wallet on the blockchain is a wallet with $64 million USD worth of BCH (132,000 BCH) inside. You can view that wallet here: 1FoKDqYPGwHpPJTshTucY3FezMBGCYZ7FQ. The wallet is more active than the ones above, with frequent transfers over the past year. In May, for example, the wallet received an input of 25,629 BCH. Just 45 minutes later, the same wallet received another 46,475 BCH. The only two transactions since that date were on June 24, when the wallet received 9,160 BCH, and on August 13, when the wallet received 24,902 BCH. Given the frequent movement of large sums of BCH, JP suspects this wallet is the BCH wallet of an exchange, although it’s unknown which exchange owns this wallet.

2) The Multi-sig $70 Million Wallet that Was Suddenly Emptied

The top of the BTC rich list is filled with multi-sig addresses. The BCH rich list, however, is not: of the top 15 richest Bitcoin Cash addresses, only one, the second largest wallet, is multi-sig. This wallet contains over 148,000 BCH worth over $70 million. You can view the wallet here: 3DD91Qx1Tat7zGWhtcowXCFZTrePstERYu. This wallet was empty until late summer 2018. On August 21, the wallet received an input of 144,000 BCH, followed by smaller inputs of 70 to 2600 BCH between September 9 and 10, 2018.

Update: Since JP’s article has been posted online, this wallet has been totally emptied of funds and now holds 0 BCH. On September 11, a total of 148,018.45 BCH was withdrawn from the wallet, and the wallet now holds 0 BCH, down from $70 million worth of BCH just a few days ago. Did the owner of the wallet withdraw the funds after being mentioned in the article? Or was this a normal movement for a new wallet?

1) The $135 Million Bitcoin Cash Wallet

The richest wallet in the Bitcoin Cash ecosystem is a wallet that holds over 278,000 BCH, or about $135 million USD worth of BCH.

That’s about 1.61% of the total supply of Bitcoin Cash. The wallet address can be seen here: 19hZx234vNtLazfx5J2bxHsiWEmeYE8a7k.

That may seem like an enormous sum of Bitcoin Cash, but it’s significantly less than the wallet has held in the past. Up until June 20, 2018, the wallet held 440,760 BCH. The wallet’s supply hadn’t changed once between December 20, 2017 and June 20, 2018. Then, in late June, the wallet sent 32,000 BCH to one address and 130,000 BCH to another address. Despite these enormous payments, this giant continues to be the biggest wallet in the space.

The wallet has been active several times over the last few weeks, receiving small payments (less than 0.003 BCH) on September 10, August 14, and August 8.

Conclusion: Who Do These Wallets Belong To?

Ultimately, we know little about the owners of any of these wallets. We can guess that they belong to various whales, exchanges, or miners, but there’s no way to prove it.

What we do know is that certain public figures likely own significant amounts of Bitcoin Cash. Bitmain, for example, reportedly swapped a significant amount of its BTC for BCH last year. Some claim that Bitmain holds over 1 million BCH in its vault. It’s unclear if one of the six wallets mentioned above belongs to Bitmain.

Calvin Ayre’s Coingeek, meanwhile, is the largest Bitcoin Cash miner in the world today, and it seems likely that Coingeek and/or Calvin Ayre hold significant amounts of BCH in various wallets.

Craig Wright, Roger Ver, and Bitmain’s Jihan Wu are other potential Bitcoin Cash (BCH) whales.

Ultimately, we may never know the identity of any of the owners of these wallet addresses – but that won’t stop us from speculating.

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