Information of a dogecoin “whale” proudly owning $2.1 billion, or 28% of all dogecoin in circulation, has been swirling over the previous couple of days, however the particular person or entity has not been recognized.
A detailed post on Reddit this week makes the case, nevertheless, that the biggest holder of the meme-based token is Robinhood Markets.
The timing of Robinhood offering dogecoin trading to its users in July 2018 aligns with the creation of the preliminary digital pockets used for storage of the huge hoard of the token, in line with the submit on r/dogecoin. The pockets in query was created in June 2018, in line with blockchain information tracker Elliptic.
“It virtually definitely belongs to Robinhood,” Tom Robinson, chief scientist and co-founder of Elliptic, told Bloomberg. “The timing of its creation, and the creation of the addresses that it acquired funds from, match the timings of Robinhood’s assist of dogecoin.”
Many observers have puzzled over the id of the whale, together with together with Tesla’s Elon Musk. On February 15, Musk mentioned the true downside of dogecoin is its focus amongst a number of holders.
“If main Dogecoin holders promote most of their cash, it would get my full assist,” Musk said in a tweet. “An excessive amount of focus is the one actual difficulty imo (in my view). I’ll actually pay precise $ if they only void their accounts.”
Web sleuths have pointed to Musk because the doable mega-investor because the account in query has acquired 28.061971 dogecoins on a couple of event, because the Wall Street Journal first reported. Followers of Musk have been fast to level out that the billionaire’s birthday is on June 28, 1971.
Musk, for his half, is pointing his fingers at Robinhood.
On February 17, The Tesla founder left a quick touch upon a viral Twitter post suspecting the buying and selling app of being the biggest holder.
Musk merely replied: “Appears like it’s.”
Robinhood the subsequent day, neither confirmed nor denied its possession. In a tweet, the buying and selling platform mentioned, “We perceive that the group needs extra perception into which addresses belong to us and the way we function our wallets.”
But it surely added, “Similar to different crypto platforms, for operational safety causes and to guard buyer privateness, we is not going to affirm which addresses do or don’t belong to us.”
The cryptocurrency, which started as a joke in 2013, not too long ago touched a valuation of $10 billion, making it extra worthwhile than some family names, together with Shake Shack and Below Armour.