Meet ‘Mr. 100’: The Mysterious Bitcoin Whale
A Bitcoin whale known as “Mr. 100” has caught the attention of the crypto community recently. This enigmatic individual has accumulated an impressive 52,996 Bitcoin, valued at over $3.5 billion, making them the 14th-largest holder of the digital currency.
On March 15, Mr. 100 purchased at least 1,000 Bitcoin, which accounted for 52% of the total 1,907 BTC bought by the top 10 Bitcoin exchange-traded funds (ETFs). This sparked speculation about the true identity of Mr. 100.
Consistent Bitcoin Accumulation by Mr. 100
Interestingly, the wallet associated with Mr. 100 has been consistently receiving Bitcoin since November 2022, around the time of the FTX exchange collapse. Since February 14, the wallet has been adding approximately 100 BTC daily. Additionally, larger Bitcoin transfers from a secondary wallet address have been observed, with this secondary address accumulating tranches of 100 BTC since 2019. All this suggests that Mr. 100 has been accumulating Bitcoin for quite some time.
The exact identity of Mr. 100 remains unknown, but several theories have emerged. Some speculate that the whale could be a Hong Kong financial institution pre-seeding for ETFs, the Qatar Investment Authority, other Middle Eastern sovereign wealth funds, a cold wallet associated with the South Korean Upbit exchange, or even an unidentified address belonging to a tech billionaire.
What sets Mr. 100 apart is their relentless accumulation of Bitcoin regardless of its price fluctuations. On March 12, when Bitcoin was trading above $72,000, Mr. 100 added a staggering 400 BTC to their holdings. This unwavering accumulation spree has propelled them to become the 14th-largest BTC holder.
Could Mr. 100’s Wallet Belong to Upbit Exchange?
Blockchain intelligence firm Arkham Intelligence has tagged the Mr. 100 wallet as a cold wallet belonging to the Upbit cryptocurrency exchange. Their analysis suggests that the wallet is associated with a VASP-type service, and the incoming transactions are traced back to Upbit. Crystal Intelligence, another analytics team, confirms that the wallet’s outflows have been directed to an Upbit hot wallet. Most of these transactions involve significant amounts, with some transfers reaching as high as 3,000 BTC.
This evidence has led to the hypothesis that Mr. 100 could indeed be linked to Upbit. The movement of 100 BTC at regular intervals may be Upbit’s unique method of managing their cold and hot wallet assets.
Furthermore, it has been noted that a South Korean entity has been accumulating large amounts of Bitcoin, adding weight to the theory that Mr. 100’s activities are connected to Upbit.
It is worth mentioning that the US government is currently the largest holder of Bitcoin, acquiring approximately 200,000 coins (worth around $5 billion) through seizures related to criminal activities. These digital assets are securely stored offline in encrypted hardware wallets controlled by various federal agencies.
Hot Take: The Mysterious Mr. 100
The presence of a Bitcoin whale like Mr. 100 raises many questions and speculation within the crypto community. Who is this individual or institution? What motivates them to accumulate such vast amounts of Bitcoin? The mystery behind Mr. 100’s identity and actions adds intrigue to the world of cryptocurrency.
As the crypto market continues to evolve, it is fascinating to witness the emergence of influential holders like Mr. 100. Their actions can have a significant impact on the market and shape the future of cryptocurrencies. Only time will reveal the true identity and intentions of this enigmatic Bitcoin whale.
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