Last upgraded: March 16, 2024 12:00 EDT|2 minutes checked out
A Bitcoin (BTC) whale called “Mr. 100” has actually recorded the attention of the crypto neighborhood in current days.
The enigmatic person has actually generated an incredible 52,996 Bitcoin, worth over $3.5 billion, making them the 14th-largest holder of the digital currency.
On March 15, the whale bought a minimum of 1,000 Bitcoin, which represented 52% of the overall 1,907 BTC purchased by the leading 10 Bitcoin exchange-traded funds (ETFs), triggering speculation about the real identity of Mr. 100.
Mr. 100 Consistently Receives Bitcoin
Surprisingly, the wallet connected with Mr. 100 has actually been regularly getting Bitcoin because November 2022, around the time of the FTX exchange collapse.
What's more, the wallet has actually been including roughly 100 BTC daily because February 14.
Larger Bitcoin transfers from a secondary wallet address have actually likewise been observed, with this secondary address collecting tranches of 100 BTC because 2019.
This recommends that Mr. 100 has actually been collecting Bitcoin for rather a long time.
While the specific identity of Mr. 100 stays unidentified, a number of theories have actually emerged.
Some hypothesize that the whale might be a Hong Kong banks pre-seeding for ETFs, the Qatar Investment Authority, other Middle Eastern sovereign wealth funds, a cold wallet connected with the South Korean Upbit exchange, and even an unknown address coming from a tech billionaire.
What sets Mr. 100 apart is their ruthless build-up of Bitcoin, no matter its rate changes.
Significantly, on March 12, when Bitcoin was trading above the $72,000 mark, Mr. 100 included a shocking 400 BTC to their holdings.
This steadfast build-up spree has actually moved them to end up being the 14th-largest BTC holder, according to information from Bitinfocharts.
Does Mr. 100 Wallet Belong to Upbit Exchange?
Remarkably, blockchain intelligence company Arkham Intelligence has actually tagged the Mr. 100 wallet as a cold wallet coming from the Upbit cryptocurrency exchange.
The company's analysis recommends that the wallet is related to a VASP-type service, and the inbound deals are traced back to Upbit.
Crystal Intelligence, another analytics group, validates that the wallet's outflows have actually been directed to an Upbit hot wallet.
The majority of these deals include considerable quantities, with some transfers reaching as high as 3,000 BTC.
This proof has actually resulted in the hypothesis that Mr. 100 might certainly be connected to Upbit.
The motion of 100 BTC at routine periods might be Upbit's special technique of handling their cold and hot wallet properties, as recommended by pseudonymous on-chain expert Defioasis.
It has actually been kept in mind that a South Korean entity has actually been building up big quantities of Bitcoin, including weight to the theory that Mr. 100's activities are linked to Upbit.
It deserves keeping in mind that the United States federal government is the biggest holder of Bitcoin (BTC),
