Whales are accumulating #Bitcoin through privacy transactions.

Over the past two years, the annual average number of CoinJoin transactions has tripled. While some attribute this surge to hackers laundering stolen funds, Chainalysis reports total hacking losses of $2.2 billion this year—just under 0.5% of Bitcoin's $377 billion in Realized Cap inflows.

In 2024, 1.55M BTC flowed into accumulation addresses, primarily linked to ETFs, MicroStrategy, and custodial wallets. Whales frequently use privacy transactions to transfer their funds to new institutional investors.

Beyond disclosed holdings, we still don't know who has accumulated approx. 240K–420K BTC. Who are these whales?

DATA BY CRYPTOQUANT.....