I've been collecting some data recently to see if institutional investors are indeed "Buying The Dip" OTC, off the exchanges. While I haven't sorted through all the data yet, today I found something interesting. The top BTC wallet addresses from #123 - #229 have all been created within the past week and each had 8,000 BTC deposited in them. Totaling 848,000 BTC around $3,000,000,000.
I tracked some of the deposits back to a wallet created in 2014.
I am not sure what to make of it all though. It's a huge amount of BTC. Possibly an entity like BAKKT preparing their custodianship for the launch of the platform?
You can have a look for yourself at the addresses and follow the transactions here: https://bitinfocharts.com/top-100-richest-bitcoin-addresses-2.html
If I find anymore information I will post it in a follow up blog. Would love to hear your thoughts in the comments below.
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