accumulation started in 2019
Does Elon Musk Own 30% Of Dogecoin Supply?
A mysterious address holding 30 percent of all Dogecoin worth 1.7 billion dollars is causing excitement, but who controls it?
The Dogecoin subreddit is filling with rumors that the world’s richest man, Elon Musk, might be the biggest Dogecoin whale. These rumors come hot on the heels of a series of tweets posted by Musk endorsing Dogecoin.
The address in question, DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, began accumulating DOGE two years ago tomorrow, on February 6th 2019.
At the time of writing it holds almost 40 billion DOGE, around 30% of all DOGE in circulation, valued at $1.7 billion dollars. It is one of the most, if not the most valuable address in all of cryptocurrency.
The address has received about 300 transaction and sent around 30, with received amounts ranging 0.1 to 1 billion or more dogecoin. It seems unlikely to be controlled by an exchange given the transaction count, and nobody has as yet claimed ownership over it.
Speculation regarding its owner has been fueled by messages perceived to be contained in the transaction amounts.
A transaction received on February 4th for 20.06281971 DOGE is thought by some to refer to Elon’s birthday on 28th June 1971.