Rumors Claim Large Bitcoin Wallet Is a Whale's Stash or Microstrategy's Wallet Despite Conflicting Data

Rumors Claim That Big Bitcoin Wallet Is A Whale Wallet Or Microstrategy Wallet Despite Conflicting Data – Bitcoin Featured News

Five months ago, Bitcoin.com News published a story regarding the speculation surrounding the third largest bitcoin wallet, with many observers believing that the address is a giant whale. The report at the time noted that the headline “1P5ZED” shows all indications that it is a trading platform, but to this day speculators still assume and are still spreading a strange guess as to why they think “1P5ZED” is a huge Bitcoin whale.

Famous Bitcoin Address ‘1P5ZED’ Once Again Sparks Unfounded Speculation & Rumors

The “1P5ZED” bitcoin address rumor is making the rounds again, as people honestly believe the address is a bullish whale picking up massive amounts of bitcoin. Stories about the “1P5ZED” bitcoin address were spread by crypto news outlets, analysts claimed the entity had a “trading strategy,” and Redditors posted threads about wallet transfers, and the wallet served as a topical conversation On Twitter too.

For example, on April 21, 2022, a Twitter account appeared with the name “Ozz, CEO of Altseason,” chirp Allegation that Microstrategy was selling and selling Bitcoin.

“I just realized Microstrategy is selling bitcoin without telling anyone,” Ozz said. “Michael Saylor said he would never do that, but yesterday he sold over 1,500 bitcoins. From their main address, bitcoins were sent to a secondary address that uses Coinbase and Okex to sell bitcoins,” Ozz added. The Twitter account also said the Microstrategy addresses were:

  • Main guard address: 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ
  • Secondary guard address: 1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR

While some people Ozz called out on the tweet because the information is not 100% correct, as the title is not owned by Microstrategy, the tweet is still there with 262 retweets, 163 quoted tweets and nearly 1,200 likes at the time of writing. The tweet also caused a huge amount of Unfounded speculation And Rumors About Microstrategy is incorrect.

This is because the third largest bitcoin address is not owned by Microstrategy and is most likely an exchange platform. Bitcoin.com News investigated the “1P5ZED” bitcoin address before, and onchain analyzes showed spending patterns on the exchange such as cluster spending.

Industry source insists on Blockchain analytics tools connecting ‘1P5ZED’ to Gemini

Onchain analysis from blockchair.com indicates that “1P5ZED” transactions are almost always settled with very little privacy. Block explorer oxt.me also contains two annotations explaining that the bitcoin address “1P5ZED” may be associated with the Bittrex exchange.

However, after Bitcoin.com News published our “1P5ZED” report, our news desk received a message from an individual about the article. The person asked not to be named and explained that he has “access to blockchain analysis tools (Chinalysis and Ciphertrace) as part of his job.” The individual further added:

There is an almost 100% chance that both titles in your article, 1P5ZED and 1FzWLk, belong to Gemini.

Blockchain analysts show that “1FzWLk” handles very little “1P5ZED” transactions. “1FzWLk” is also marked with a note on oxt.me about the address associated with the exchange. “[1FzWLk] Commented as Okex by Whale Alerts. Although the source and pool spend indicates closer ties with Coinbase and Gemini,” your wish wrote at the time.

While most major Bitcoin addresses are categorized as exchanges, people continue to promote things in crypto media as if this were a mysterious Bitcoin whale. The truth is that the wallet is most likely, with almost 100% guarantee, a well-known exchange that has not been classified as a trading platform. Although, as long as the third largest bitcoin address is not reported, it will be open to interpretation and guesswork.

Tags in this story

3rd Largest Address 3rd Largest Wallet Annotation Binance Bitcoin Bitcoin (BTC), bitcoin whale, Bitcoin Whales, Bittrex, Block Explorer, BTC Whale, Coinbase, Crypto Exchange, Data, Ergobtc, Flag, Gemini, Okex, Data Onchain, oxt.me, speculators, tag, whales, whale watching

Do you think “1P5ZED” is a random whale address or do you think it belongs to an exchange? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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