Connect with us

Hi, what are you looking for?


Unmasking ‘Mr. 100’: The Enigma Behind Bitcoin’s 14th-Largest Holder

A Bitcoin (BTC) whale known as “Mr. 100” has captured the attention of the crypto community in recent days.

The enigmatic individual has amassed a staggering 52,996 Bitcoin, worth over $3.5 billion, making them the 14th-largest holder of the digital currency.

On March 15, the whale 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), sparking speculation about the true identity of Mr. 100.

Mr. 100 Consistently Receives Bitcoin

Interestingly, the wallet associated with Mr. 100 has been consistently receiving Bitcoin since November 2022, around the time of the FTX exchange collapse.

What’s more, the wallet has been adding approximately 100 BTC on a daily basis since February 14.

Larger Bitcoin transfers from a secondary wallet address have also been observed, with this secondary address accumulating tranches of 100 BTC since 2019.

This suggests that Mr. 100 has been accumulating Bitcoin for quite some time.

While the exact identity of Mr. 100 remains unknown, 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.

Notably, on March 12, when Bitcoin was trading above the $72,000 mark, Mr. 100 added a staggering 400 BTC to their holdings.

This unwavering accumulation spree has propelled them to become the 14th-largest BTC holder, according to data from Bitinfocharts.

Does Mr. 100 Wallet Belong to Upbit Exchange?

Interestingly, blockchain intelligence firm Arkham Intelligence has tagged the Mr. 100 wallet as a cold wallet belonging to the Upbit cryptocurrency exchange.

The firm’s 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, as suggested by pseudonymous on-chain analyst Defioasis.

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 noting that the US government is the largest holder of Bitcoin (BTC), acquiring approximately 200,000 coins (worth around $5 billion) through seizures related to criminal activities.

The digital assets were seized from cybercriminals and darknet markets and are securely stored offline in encrypted hardware wallets controlled by various federal agencies, including the Justice Department and the Internal Revenue Service (IRS).

The post Unmasking ‘Mr. 100’: The Enigma Behind Bitcoin’s 14th-Largest Holder appeared first on Cryptonews.

You May Also Like

Editor's Pick

Real gross domestic product rose at a revised 3.2 percent annualized rate in the third quarter versus a 0.6 percent rate of decline in...

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024