There are certain bitcoin addresses that are monitored constantly by the crypto community. The sixth richest bitcoin wallet is one such address – and the coins in that address just started moving.
As spotted by AMBCrypto on July 4, the coins started moving on July 1, 2018. You can view the wallet on Bitinfocharts, which ranks the top bitcoin wallets by value. The wallet currently sits in the sixth position with a total of 85,947 BTC, currently valued at around $566 million.
Bitinfocharts keeps track of the top 100 richest addresses across the bitcoin network and other cryptocurrency communities.
Typically, the addresses that hold the most bitcoins belong to major exchanges. The top five largest exchanges, for example, are Bitfinex, Binance, Bittrex, Bitstamp, and Huobi, and all have large bitcoin holdings. The top five addresses on Bitinfocharts have all been publicly linked with these exchanges. That means this new address belongs to an unknown entity. It’s the largest non-exchange bitcoin address on the network today.
In any case, the world’s sixth largest account received a total of 85,947 BTC from four different addresses. The first transaction was a movement of 85,947 BTC worth approximately $568 million. The remaining transactions were movements of 5.3 cents, 33 cents, and 3.6 cents, with the last transaction occurring on July 3.
These movements made this wallet the sixth largest bitcoin wallet overnight. The wallet was first created on March 25, 2018. The last notable transaction sent from that address was made on July 1.
Since being activated in March, the wallet has made a total of 152 transactions. The biggest transaction was the reception of 85,947.127 BTC, which was transferred to the wallet on July 1. This is the biggest transfer made by the wallet to date. Prior to July 1, the address had made 2000 BTC transactions four times.
The good news about this massive transfer is that it doesn’t appear to have had any major impact on crypto markets. Typically, when a wallet with this much bitcoin starts to move coins around, it indicates that someone – like a whale or a long-time hodler – is transferring money to an exchange to cash out. This doesn’t appear to be the case with this wallet.
The movement of coins is significant, however, given that Satoshi Nakamoto – or a person claiming to be Satoshi – has become active again. In late June, “Satoshi” updated the website NakamotoFamilyFoundation.org announcing the release of two books. The books will explain bitcoin and its background. Satoshi published an excerpt from the book explaining further details about the early days of bitcoin – including new never-before-heard information. The books will be called Honne and Tatamae. When translated from Japanese to English, the term means the “contrast between a person’s true feeling and desire and the behavior and opinions one displays in public.”
In any case, this new wallet became the world’s largest non-exchange bitcoin wallet overnight. This mysterious wallet holds more bitcoins in a single place than any other member of the bitcoin network.
Is this wallet related to Satoshi Nakamoto? Is Satoshi moving a secret stash of coins? Or is this just a routine movement from a major cryptocurrency exchange using an unknown address? We’re going to be keeping an eye on this address. In the meantime, you can check out the address at Bitinfocharts.com.