RobinHood Owns The Largest Dogecoin Address and Third Largest Wallet?? This is The Truth!!
The most bullish news for Dogecoin in weeks just came from Robinhood. It says that Robinhood owns the largest Dogecoin address and third largest wallet. It says that Robinhood’s BTC holdings are even greater than that of MicroStrategy.
Now, there were speculations about this before as well. If you remember, people thought it’s Elon Musk who owns the largest wallet. But Elon said that it’s probably Robinhood. Then Robinhood CEO said that it’s not them. Then Elon basically confirmed that he can’t be the largest Dogecoin holder when he said that he owns only a small amount of Doge.
This report suggests that it’s Robinhood
It says that the third biggest BTC address holds 113 K BTC and it started accumulating in February 2019. Coincidentally, the biggest Dogecoin address started accumulating at the same time as this Bitcoin address. Now, we probably will never know if it’s Robinhood or not, but if it is, then this is why it’s super bullish for Dogecoin.
We know that Robinhood success is heavily reliant on Doge wins price. They recently announced that most of their crypto trading revenue came from Dogecoin and then they caution their investors that Robinhood might suffer a loss because Dogecoin trading volume and prices falling. With Robin Hood being the biggest Dogecoin wallet, we can be sure that 27 percent of all Dogecoin in circulation will never be sold. It matters a lot to Robinhood that Dogecoin succeeds and so they’ll protect it from the ripple effect and massive sell out.
It looks like its IPO wasn’t a huge success like they expected it to be. It says that Robinhood shares suffered a lackluster performance on Thursday, sinking dramatically in a market debut that indicated flat investor demand by the end of the New York session had closed eight point four percent lower, having earlier sunk by as much as 12 percent. Robinhood might just recover soon, especially if we believe the theory that its success is heavily reliant on Dogecoin. This is because we can see Dogecoin recovered to its currently trading at around 21 cents and is back in the green again.
Another Interesting Dogecoin News Today
According to the CEO of PayPal, the company’s first prototype of its super app Wallet is code complete. He also said that the wallet would be fully functioning in the United States over the next few months. And this is really bullish because the super app Wallet will have high yield savings, early access to direct deposit funds and additional crypto capabilities.
Now, let’s look at some news for Dogecoin that’s spreading serious fun. In the market, this one talks about the five reasons every investor should avoid Dogecoin, it lists these reasons as Dogecoin is pure speculation. It’s a laughable business plan and use case high volatility prices. Developers will not bother about it. And it’s a hustle and a bubble. So as you can see, this article is trying to spread FUD in the market. Articles like this completely disregard the fact that there’s simply too much going on for Dogecoin right now.
The last but not least, The Kazakhstan government is rumored to be considering legalizing bank accounts for Bitcoin transactions. This means that several Kazakhstani banks will soon be able to provide Bitcoin exposure to the big players in their country. And again, this will bring more money into the market. And then there’s Ghana, which also might be looking to accept crypto as legal tender. It says that the vice president of Ghana believes that digital currencies must be adopted by African countries in order to encourage trade throughout the continent. Perhaps this implies that it’ll become the second country to accept crypto.