(Thread) I am going to make the case for why I believe the largest wallet of Dogecoin is actually held by @RobinhoodApp and why you should not presume it is not just @elonmusk or any other random billionaire.

Firstly, here is a link to the block exlporer for that specific wallet in question. Here are some patterns that if you scroll through it's history make a whole lot of sense.

https://bitinfocharts.com/dogecoin/address/DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L

The wallet was first used shortly before @RobinhoodApp offered

Dogecoin. There are a few test transactions, in and out of various amounts, normal testing.

And then, over and over, you find that every time Dogecoin has been trending or popular, this wallet makes gigantic purchases no matter the current market price

I believe they are only using the actual blockchain to purchase large quantities and that all trading done within the app is done between customers or between RH and you. There are lots of reasons to do this, they can save you money on the node transaction fee, while having

the amount of money you would send the node, be used to fund operations at @RobinhoodApp. It's a way for them to keep their company open.

Plus, since crypto generally always goes up over time, they have no incentive to sell when customers hold less than they own in their wallet

because they can sell it to the next customer at the then current market price and make additional revenue on the price increase. sure they could get burned if it goes down, but that is unlikely in crypto over time. it's a new market and keeps growing.

Thus brings us to the biggest fear of @elonmusk regarding an endorsement of doge coin, the distribution of coins. I believe if @RobinhoodApp were to confirm that they own this wallet, we would know that 28% of supply is owned by millions of people, not one single person

Now the ball is in your court, @RobinhoodApp. Will you confirm or deny ownership of this wallet?

Your confirmation could net you millions of new customers who would love to invest in #dogecoin