According to data from Arkham Intelligence, an anonymous Bitcoin wallet has amassed over $3 billion worth of Bitcoin in just the past 30 days .

The wallet address, created on November 1st 2023, has received large Bitcoin deposits daily from various addresses, starting with BitMEX exchange.

This unusually active accumulation of Bitcoin by a single entity has sparked speculation in the crypto community. Lark Davis, Founder of Wealth Mastery, theorized that institutional investors could be aggressively acquiring Bitcoin in anticipation of a possible spot BTC exchange-traded fund (ETF) approval.

Additionally, discussion has spread to Reddit as well, where users pointed out a potential connection to the BitMEX exchange based on the initial deposit. While the whale’s identity remains unknown, the wallet’s holdings of over 120,000 BTC makes it one of the largest private Bitcoin wallets to date.

According to Henley & Partners, currently there are estimated to be 6 Bitcoin billionaires and 22 cryptocurrency billionaires worldwide with a combined crypto market cap of $1.18 trillion according to Henley & Partners. Additionally, an estimated 88,200 crypto investors have amassed one million dollar portfolios demonstrating the rapid growth of cryptocurrency wealth happening globally.