Chris Graythen / Getty Images
News of a $ 2.1 billion dogecoin “whale” or 28% of all dogecoin in circulation has been circulating for the past few days, but the person or entity has not been identified.
However, a detailed report on Reddit this week makes the case that Robinhood Markets is the largest holder of the memo-based token.
The timing for offering dogecoin trading to Robinhood in July 2018 is consistent with the creation of the initial digital wallet used to store the sign’s massive treasure, according to the report on r / dogecoin. The wallet in question was created in June 2018, according to blockchain data tracker Elliptic.
“It almost certainly belongs to Robinhood,” Tom Robinson, chief scientist and co-founder of Elliptic, told Bloomberg. “The timing of its creation, and the creation of addresses from which funds were received, are consistent with the timing of Robinhood’s support of dogecoin.”
Many observers have wondered about the identity of the whale, including Tesla’s Elon Musk. On February 15, Musk said the real problem with dogecoin is the concentration among single containers.
“If large holders of Dogecoin sell most of their coins, it will get my full support,” says Musk said in a tweet. “Too much concentration is the only real problem (in my opinion). I would literally pay real $ if they just invalidated their accounts.”
Internet sleuths have identified Musk as the potential mega-investor as the account in question received doggies on more than one occasion 28.061971, as the Wall Street Journal first reported. Musk’s followers quickly pointed out that the billionaire’s birthday was on June 28, 1971.
Musk in turn points his fingers at Robinhood.
On February 17, the founder of Tesla made a brief remark about a viral Twitter post suspect that the trading program is the largest container.
Musk simply replied, “Sounds like it is.”
Robinhood the next day, did not confirm or deny his ownership. In a tweet, the trading platform said: “We understand that the community wants more insight into what addresses belong to us and how we use our wallets.”
But it added: “Like other crypto platforms, for operational security reasons and to protect the privacy of customers, we will not confirm which addresses we do or do not belong to.”
The cryptocurrency, which started as a joke in 2013, recently hit a $ 10 billion valuation, making it more valuable than some household names, including Shake Shack and Under Armor.