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The well-known Bitcoin address '1P5ZED' has sparked yet more unfounded speculation and rumors

The "1P5ZED" bitcoin address story is circulating again, with many believing that the address represents a bullish whale acquiring large amounts of bitcoin. Crypto news sites have reported on the "1P5ZED" bitcoin address, with experts claiming the firm has a "trading strategy." The wallet's transfers have been the subject of conversations on Reddit, and the wallet has also been a source of discussion on Twitter.

On April 21, 2022, for example, a Twitter account called "Ozz, CEO of Altseason" claimed that Microstrategy was selling and had sold bitcoin.

"I recently found out that Microstrategy has been secretly selling bitcoin," Ozz remarked. "Michael Saylor vowed he'd never do it, but he sold almost 1,500 bitcoins yesterday." Bitcoins were transmitted from their main address to a secondary account that sold bitcoins on Coinbase and Okex," Ozz explained. Microstrategy's addresses, according to the Twitter account, are:

+, 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ is the main custodial address.
+. 1FzWLkAahHooV3kzTgyx6qsswXJ6sCXkSR is the secondary custodial address.

While several people chastised Ozz for the tweet because the address is not Microstrategy's, it still has 262 retweets, 163 quoted tweets, and over 1,200 likes at the time of writing. The tweet also sparked a lot of erroneous curiosity and speculations regarding Microstrategy, which turned out to be false.

This is because Microstrategy does not hold the third-largest bitcoin address, which is most likely an exchange platform. The "1P5ZED" bitcoin address has already been analyzed by Bitcoin.com News, and onchain analytics have shown exchange spending patterns such as cluster spending.

Tether '1P5ZED' to Gemini, according to a source in the industry

Blockchair.com's onchain analytics show that "1P5ZED" transactions are always finalized with extremely little privacy. Two annotations on the block explorer oxt.me suggest that the bitcoin address "1P5ZED" may be linked to the exchange Bittrex.

Following the publication of our coverage on "1P5ZED" on Bitcoin.com News, our newsdesk got a comment from a reader. The person begged not to be identified and claimed that "as part of their work role," they have "access to blockchain analytics tools (Chainalysis and Ciphertrace)." The guy went on to say:

"There's a nearly 100 percent possibility that both of the addresses in your post, 1P5ZED and 1FzWLk, are Gemini."

According to blockchain parsers, "1FzWLk" transacts a lot with "1P5ZED" transactions. On oxt.me, "1FzWLk" is also marked with a comment about the address being linked to an exchange. "Whale Alerts has marked [1FzWLk] as Okex. Though source and cluster expenditures point to Coinbase and Gemini," stated Ergobtc at the time.

Despite the fact that most of the top bitcoin addresses are exchanges, the crypto media continues to hype things up as if this is a secret bitcoin whale. The wallet, in reality, is probably certainly a well-known exchange that has not been branded as a trading platform. However, as long as the third-largest bitcoin address isn't marked, it'll be subject to speculation and interpretation.