On July 1, 2018, 85,947 BTC, worth $566 million USD were moved to the brand new Bitcoin wallet address, 183hmJGRuTEi2YDCWy5iozY8rZtFwVgahM from just four transactions, making it the 6th largest Bitcoin wallet in existence. While the top 5 Bitcoin addresses are mature and monitored regularly as exchange wallets belonging to Bitfinex, Binance, Bittrex, Bitstamp and Huobi, this one is different, and the timing of the migration of funds roughly coincides with the market bounce seen at the end of the month, when Bitcoin futures contracts settled on CME.

This wallet, which currently holds over half a billion dollars worth of Bitcoin represents just over half a percent of all Bitcoin in existence, which may be enough to manipulate markets on the Bitcoin exchanges, as well as the derivatives platforms such as CME and Cboe. As such, it is a good idea to follow the flow of coins in and out of this wallet address, as well as the four wallets that moved funds into it.

Whale transfers. Source: Bitcoin Info Charts

The wallet that holds these funds was created on March 25, 2018, just over 3 months before the transactions occurred on July 1. Since then, 152 transactions were made with the wallet, with the 95,947 BTC being moved on July 1. Prior to that, there were four, 2,000 BTC transactions made with this wallet.

The move of funds occurred after Bitcoin and other cryptos had already started to bounce back, so to date, it does not appear to have had any negative impact on the value of Bitcoin. However, should this whale decide to cash out, as is one possible reason for consolidating funds into a single wallet address, it could drive the value of Bitcoin down.

We are not financial advisors, so be sure to check with a professional if you are deciding on what to do with your own Bitcoin investments. Our layman’s opinion is that this whale is not planning to cash out with immediacy however. It’s been three days since the funds were moved, and the market is still looking good. We’d suggest paying attention to this wallet as often as is reasonable for now, and to pay more attention as Bitcoin hits various resistance levels. If BTC gets close to $8,000 for example, it would be a good time to pay close attention to the market, as well as this and other wallet addresses that are used to control large sums of BTC.

There is some speculation on who owns this wallet address. Some people have suggested that it belongs to Satoshi Nakamoto themselves, given that someone claiming to be the original Bitcoiner is planning to release two books on the subject. On the conspiracy website, 4chan, people are speculating in a thread on the topic as well. People on 4chan have also suggested that it belongs to Nakamoto, or possibly Jihan Wu and other Bitcoin Cash HODLers who want to make a move. Still others are speculating that it is related to the Mt. Gox selloff. Could self-proclaimed Satoshi Nakamoto, Craig Wright be behind this move? Stay tuned, and be sure to sign up for updates in case we hear anything.