With a floating profit of more than 15 billion US dollars, this Dogecoin address may be related to Musk

4 months ago,DogecoinSome members of the community began to notice the address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L because the number of Dogecoins they held exceeded 1/4 of the total. Even at the price at the time, the value of these Dogecoins exceeded US$230 million.

So someone posted and asked:

“Who is the whale behind this Dogecoin address?”

Some people speculate that this is an exchange , and others say that it is Robinhood’s address, but the data shows that the first transaction of this address occurred on February 6, 2019, and Robinhood opened Dogecoin transactions in 2018 year.

Later, as more and more Dogecoins were hoarded at this address, some people analyzed its transactions. The following is an example of a transaction with a block height of 3594401:


After querying the information of these transactions, we can see that the coins in this address are all from the same address: D8vFz4p1L37jdg47HXKtSujChhP9f3doTK.

…I think it’s likeBinanceOr some kind of blockchain address of a broker like Robinhood.

…And after Elon tweeted, the wallet transferred a total of 500 million Dogecoins…

Up to now, the Dogecoin addresses at the beginning of DH5 hold more than 36.7 billion DOGE, accounting for 28.34% of the total circulation of Dogecoin. According to the current market price, the value of these Dogecoins exceeds $17.1 billion. According to data from bitinfocharts, there are 1103 input transactions and 21 output transactions for this address. According to calculations, the overall Dogecoin holding cost of this whale address is about 440 million U.S. dollars, and the single currency cost is about 0.0119 U.S. dollars.


Interestingly, Elon Musk, the founder of Tesla, also started calling Dogecoin in 2019.


This inevitably makes people think of the relationship between Elon Musk and the address of this giant whale.

On May 9, 2021, Elon Musk stated on the “Saturday Night Live” program that he would give Dogecoin as a Mother’s Day gift to his mother Maye Musk.

Maye Musk first said that he was looking forward to the Mother’s Day gift, but hoped that it was not Dogecoin. However, Musk replied: “It’s Dogecoin.”

And on Mother’s Day, a Dogecoin address starting with DG6XW received 2.7 billion Dogecoins, worth more than $1.29 billion.


There are various indications that these giant whale addresses are more or less related to Elon Musk, but based on these alone, we cannot confirm that they belong to the same person.

1 From supporting bitcoin to calling out bitcoin, what medicine does Musk sell?

In February of this year, Tesla announced that it had spent $1.5 billion to purchase Bitcoin and accepted Bitcoin as a payment method for its electric vehicles. Affected by this news, Bitcoin experienced a wave of rise.

Recently, Elon Musk suddenly announced that it would stop accepting Bitcoin as a payment method, and tweeted that the company had sold or was about to sell its Bitcoin. In addition, Ma Yilong also criticized that Bitcoin is not environmentally friendly and initiated a vote to support Dogecoin as a payment method for Tesla.


After this wave of Sao operations, such as encryption Bitcoin currency suffered a slump, the market into a panic.

So what happened that would cause Ma Yilong to shout empty bitcoins?

Back to May 9, DCG,GrayscaleFounder Barry Silbert posted a tweet calling on everyone to exchange Dogecoin forBTC, And stated that they have shorted Dogecoin through FTX (this sentence is the fuse).


What Ma Yilong hates most is that someone goes to short his positions, especially institutions.

This may also explain some of his recent behaviors of calling out short Bitcoins, and his purpose is to counterattack institutions that short Dogecoins such as Grayscale. From a rational point of view, this may also mean that Ma Yilong’s Dogecoin holdings have exceeded his Bitcoin holdings. Then we can boldly guess that the only address that meets this condition seems to be DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L.

And the profit of more than 15 billion U.S. dollars is enough to make Ma Yilong scream for Dogecoin.

2 Musk and his dream of making gods

Obviously, the title of “Silicon Valley Iron Man” can no longer satisfy Elon Musk’s ambitions. After experiencing the sweetness of “Twitter governing money”, Elon Musk also tried to create a god in the currency world. For this reason, he chose a Zeng Dogecoin is regarded as a joke by many people.

At least from the current point of view, his “God Creation Project” is successful, what about afterwards? I do not know.

But from a religious perspective, those who choose to leave the public’s sightSatoshi Nakamoto, It seems to be higher, Dogecoin VS Bitcoin? Sorry, I still choose Bitcoin.

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