A mysterious individual known as “Mr. 100” has become the subject of intrigue in the world of Bitcoin. This individual has amassed a staggering 52,996 Bitcoin, which is valued at over $3.5 billion, according to on-chain data.
The identity of Mr. 100 remains unknown, but it is believed that this Bitcoin whale acquired at least 1,000 Bitcoin on March 15. This accounts for 52% of the total 1,907 BTC purchased by ten spot Bitcoin exchange-traded funds (ETFs). This information was shared in a post by HODL15Capital on X (formerly Twitter).
The wallet associated with Mr. 100 has been receiving BTC consistently since November 2022, which coincides with the collapse of the FTX exchange. Since February 14, the wallet has been adding a minimum of 100 BTC on a daily basis.
Interestingly, the wallet has also received larger Bitcoin transfers from a secondary address. This secondary address has been accumulating tranches of 100 BTC since 2019. This suggests that Mr. 100 has been accumulating Bitcoin since at least 2019. HODL15Capital speculates that the mysterious whale could be a Hong Kong financial institution preparing for ETFs, the Qatar Investment Authority, other Middle Eastern sovereign wealth funds, a cold wallet associated with the South Korean Upbit exchange, or an unidentified address belonging to a tech billionaire.
Regardless of the price of Bitcoin, Mr. 100 continues to accumulate large amounts of BTC. On March 12, when Bitcoin was trading above $72,000, the whale added 400 BTC to their wallet. As a result of this accumulation spree, the Mr. 100 wallet is now the 14th largest holder of BTC, according to data from Bitinfocharts.
There has been speculation about the origin of the Mr. 100 wallet. Blockchain intelligence firm Arkham Intelligence has identified it as a cold wallet belonging to the Upbit cryptocurrency exchange. Crystal Intelligence, another analytics firm, confirms this claim based on their analysis of blockchain data.
It is worth noting that the Mr. 100 wallet has been primarily sending Bitcoin transactions to an Upbit hot wallet, according to Arkham Intelligence. The transactions are often in tranches of at least 500 BTC, with some of the largest transfers amounting to 3,000 BTC.
The Crystal Intelligence team has also discovered that the secondary wallets associated with Mr. 100 also belong to Upbit exchange. This further supports the theory that the mysterious whale is connected to Upbit.
In conclusion, while the identity of Mr. 100 remains a mystery, it is clear that this individual has been accumulating Bitcoin on a massive scale. The involvement of Upbit suggests a possible connection to the South Korean cryptocurrency exchange. However, it is important to note that this article does not provide investment advice and readers should conduct their own research before making any decisions.