A mysterious Bitcoin (BTC) whale, known as “Mr. 100,” has sparked interest in the cryptocurrency world by accumulating a whopping 52,996 Bitcoin, equivalent to over $3.5 billion, according to on-chain data.
This enigmatic individual has piqued the curiosity of many due to their impressive holdings in the world’s most popular cryptocurrency. Some may wonder if this whale is connected to the top crypto sites or the well-known Kraken crypto exchange. Others may speculate if this is a sign of the inevitable rise of blockchain technology and the emergence of web 3.0.
The name “Mr. 100” has become a hot topic in the world of crypto, with some even comparing them to billionaire investor Mark Cuban, who has been vocal about his support for digital assets. The news of this whale’s massive Bitcoin holdings has caused a stir on platforms like Twitter, with users discussing the potential impact of this accumulation on the Korean crypto market and the overall cryptocurrency industry.
Regardless of the speculations surrounding “Mr. 100,” one thing is certain – their significant investment in Bitcoin is a testament to the growing popularity and potential of the cryptocurrency world. As the world continues to embrace digital assets, it will be interesting to see how this mysterious whale’s actions will shape the future of crypto.
Who is the mysterious “Mr. 100” of Bitcoin?
The enigmatic Mr. 100 whale wallet made a massive purchase of at least 1,000 Bitcoin (BTC) on March 15, which accounts for 52% of the total 1,907 BTC bought by the top ten Bitcoin exchange-traded funds (ETFs), as reported by HODL15Capital on X (previously known as Twitter).
This particular wallet has been consistently receiving BTC since November 2022, when the FTX exchange collapsed. Since February 14, it has been adding at least 100 BTC on a daily basis.
Interestingly, the wallet has also received larger transfers from a secondary wallet address, which has been accumulating tranches of 100 BTC since 2019. This suggests that the mysterious whale has been stacking sats since at least 2019, according to HODL15Capital, who also noted in a March 15 X post:
Based on the size of the acquisitions, there is speculation 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 an unidentified address of a tech billionaire.
Regardless of the current high Bitcoin price, Mr. 100 continues to accumulate, adding 400 BTC on March 12 when Bitcoin was trading above the $72,000 mark.
As a result of this accumulation spree, the Mr. 100 wallet is now the 14th largest holder of BTC, according to data from Bitinfocharts.
The Upbit Wallet Linked to Crystall Intelligence
According to blockchain intelligence firm Arkham Intelligence, the Mr. 100 wallet has been identified as a cold wallet connected to the Upbit cryptocurrency exchange.
Crystal Intelligence, another blockchain analysis company, has confirmed that the mysterious wallet belongs to Upbit after examining blockchain data. The wallet has primarily been sending large amounts of Bitcoin to an Upbit hot wallet, with transactions ranging from 500 to 3,000 BTC.
Pseudonymous on-chain analyst Defioasis believes that the “Mr. 100” wallet is owned by Upbit, as stated in a March 12 X response.
In a March 15 X post, HODL15Capital also pointed out that a South Korean entity is accumulating significant amounts of Bitcoin, referencing the heatmap below.
All 14 secondary wallet addresses associated with the main wallet of Mr. 100 have undergone Know Your Customer (KYC) verification on Upbit exchange, according to pseudonymous on-chain investigator Mai in a March 15 X response.
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