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Robinhood is the largest holder of Dogecoin cryptocurrency

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Dogecoin cryptocurrency

Robinhood is the largest holder of Dogecoin cryptocurrency

According to Bloomberg, Robinhood, which develops the app for trading stocks and cryptocurrencies of the same name, is the owner of the largest cryptocurrency wallet Dogecoin.

Dogecoin cryptocurrency

The wallet creation time coincides with the addition of Dogecoin support in July 2018. Bloomberg refers to the findings of the analyst firm Elliptic and the “investigation” of the Dogecoin community on the Reddit forum.

“The wallet almost certainly belongs to Robinhood,” said Elliptic co-founder Tom Robinson. “The timing of his creation and the creation of the addresses from which he received funds coincides with the timing of Dogecoin support by Robinhood.”

The owner of the wallet, which controls nearly 29% of Dogecoin in circulation, came into the spotlight after Tesla CEO Elon Musk urged large Dogecoin holders to sell their assets and noted that “too much concentration of coins is the only real problem with this cryptocurrency.”

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