Unidentified Bitcoin Whale Increases Holdings

An unidentified Bitcoin (BTC) whale has become unexpectedly active in the last 24 hours, amassing a total of 12,131 BTC in its wallet.

Recent Accumulation

According to data from Arkham Intelligence, the address “bc1qmpn” was first identified on-chain two weeks ago, initially receiving 16.87 BTC, valued at approximately $1.01 million.

The funds originated from another anonymous address named “bc1qcacv.” After eight days, this new whale acquired an additional 176.616 BTC, worth around $10.63 million, before its activity tapered off.

Recent Developments

However, in the last 24 hours, this large entity resumed accumulating Bitcoin aggressively, drawing from the same original address. This activity has now brought the total holdings to an astonishing value of approximately $770.49 million.

Important Insights

Notably, the address from which this whale received the latest funds possesses a significant reserve of 11,477 BTC, totaling around $728.92 million.

The initial address that funded “bc1qmpn” sourced its Bitcoin from a wallet believed to be linked to Fortress Trust, a crypto custodian and trustee.

That said, it remains uncertain if these vast Bitcoin assets, potentially exceeding $1.5 billion, belong to Fortress Trust or one of its clients.

This article was originally published on U.Today