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Robinhood CEO speaks on mysterious Dogecoin whale billionaire

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TL;DR Breakdown

  • Whale amasses 797 Doge this week
  • Nobody knows who or where the whale operates from

Dogecoin, largely the most talked about cryptocurrency in the past month, has again been subject to another controversy, especially as regards to the largest owner of the coin.

An address with 36.7 billion dogecoin has recently amassed 797 DOGE this week and 3,755 coins during the last month. Crypto speculators think this wallet is a massive whale, while others have assumed it’s Elon Musk or the trading platform Robinhood’s dogecoin cold storage.

Is it Elon CEO Elon Musk? The same address also has a history of transacting 28.061971 DOGE, which happens to be Elon Musk’s birthday – June 28th, 1971.

But Musk points to Robinhood, Vladimir Tenev’s trading empire, as the possible owner. Tenev says that’s not the case.
“Any coins that we hold are for the purposes of sort of providing access in holdings for our customers. We don’t have significant positions in any of the coins that we keep on a proprietary basis or anything like that.”

Change from Zhao thought on mystery Dogecoin whale

Binance CEO Changpeng Zhao says he’s certain the owner of the largest DOGE wallet is not Binance. He’s also skeptical that any other exchange is the entity behind the wallet in question.
“Elon, the top one (with 30 percent of total supply) does NOT belong to Binance. I seriously doubt it belongs to another exchange based on usage pattern, etc. I could be wrong. Who told you? Might want to check your source. All the best.”

Although the identity of the Doge whale remains unknown, Musk remains an avid Dogecoin supporter, and Robinhood is one of the primary ways that retail traders buy DOGE. The billionaire has always been after the development of the meme coin and constantly talking about it on social media.

Musk said that he had not sold his dogecoin holdings and he will not sell them at all. He replied to  Dave lee’s comment on his post on Friday.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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