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Bitcoin Whale “Mr. 100” Captures Attention
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.
Mr. 100’s Bitcoin Accumulation Strategy
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.
- The wallet associated with Mr. 100 has been consistently receiving Bitcoin since November 2022.
- Since February 14, the wallet has been adding approximately 100 BTC daily.
- Larger Bitcoin transfers from a secondary wallet address have also been observed, with this secondary address accumulating tranches of 100 BTC since 2019.
Speculations Surrounding Mr. 100
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.
Mr. 100’s Unique Behavior
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.
Connection to Upbit Exchange
Blockchain intelligence firm Arkham Intelligence has tagged the Mr. 100 wallet as a cold wallet belonging to the Upbit cryptocurrency exchange. Crystal Intelligence confirms that the wallet’s outflows have been directed to an Upbit hot wallet, with significant transactions involving amounts as high as 3,000 BTC.
Evidence suggests that Mr. 100 could be linked to Upbit, with on-chain analysts speculating about Upbit’s unique method of managing their cold and hot wallet assets through regular 100 BTC movements.
US Government’s Bitcoin Holdings
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).