Fun

Who is ‘Mr. 100’? Mysterious Bitcoin whale becomes 14th-biggest BTC holder

News Feed - 2024-03-16 12:03:00

Zoltan Vardai8 hours agoWho is ‘Mr. 100’? Mysterious Bitcoin whale becomes 14th-biggest BTC holderThe Bitcoin wallet has added 100 BTC tranches regularly since at least November 2022, when FTX collapsed.3833 Total views4 Total sharesListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksA mysterious Bitcoin whale, nicknamed “Mr. 100,” has sparked curiosity in the cryptocurrency space after amassing over 52,996 Bitcoin, worth over $3.5 billion, on-chain data shows.Who is Bitcoin’s “Mr. 100”?


The Mr. 100 whale wallet bought at least 1,000 Bitcoin (BTC) on March 15, which is 52% of the total 1,907 BTC bought by the 10 spot Bitcoin exchange-traded funds (ETFs), according to an X post by HODL15Capital.Bitcoin accumulation sheet. Source:HODL15Capital on X


This address has been continually receiving BTC since November 2022, when the FTX exchange collapsed. The wallet has been adding at least 100 BTC nearly every day since Feb. 14.


The wallet received some larger Bitcoin transfers from a secondary wallet address, which has also been adding 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:“What I do know is that this is NOT one of the U.S. ETFs. I have all those mapped.” 


Based on the size of the acquisitions, there’s speculation that the whale could be either a Hong Kong financial institution pre-seeding for ETFs, the Qatar Investment Authority, other Middle Eastern sovereign wealth funds, a cold wallet associated with South Korean Upbit exchange, or an unidentified address of a tech billionaire.


Mr. 100 continues accumulating regardless of Bitcoin price at near all-time highs, adding 400 BTC on March 12, when Bitcoin traded above the $72,000 mark.


Following the accumulation spree, the Mr. 100 wallet is currently the 14th-largest BTC holder, according to Bitinfocharts data.Mr. 100 wallet data. Source:BitinfochartsWallet linked to Upbit: Crystal Intelligence


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


Based on blockchain data analyzed by Crystal Intelligence, the mysterious wallet belongs to Upbit, the firm told Cointelegraph:“We have found that the number and value of transactions associated with this wallet are indicative of a VASP-type service. Additionally, we can confirm with high accuracy that the incoming transactions originate from Upbit, and these have maintained a consistent value since the collapse of FTX.”


Related:Is Bitcoin due for a correction with 5 weeks till the halving?


Looking at the wallet’s outflows, Mr. 100 has only been sending Bitcoin transactions to a wallet tagged as an Upbit hot wallet by Arkahm’s platform. Most of the transactions were in tranches of at least 500 BTC, with two of the biggest transactions transferring as much as 3,000 BTC.Upbit: Cold Wallet Outflows. Source:Arkham Intelligence


The analytics team behind Crystal Intelligence confirmed that the secondary wallets also belong to Upbit:“Bitcoin is moved into three major clusters on the outgoing transaction side, and those clusters appear to be connected in subsequent transactions. We also found some evidence that the clusters that received funds from 1Ay8v belong to Upbit.”


Thus, the “Mr. 100” wallet likely belongs to Upbit, argued pseudonymous on-chain analyst Defioasis, who wrote in a March 12 X response:“The regular movements of 100 BTC are not purchases but could be Upbit’s unique way of managing cold and hot wallet assets.”


HODL15Capital also noted that a South Korean entity is stacking large amounts of Bitcoin, in a March 15 X post, referencing the heatmap from below.BTC global transfers heatmap. Source:HODL15Capital


All the 14 secondary wallet addresses associated with the main wallet of Mr. 100 have passed Know Your Customer  verification on Upbit exchange, wrote pseudonymous on-chain sleuth Mai in a March 15 X response:“Mr.100 uses a small wallet address to buy $BTC. I find it very similar to what Upbit usually does with altcoins (ETH network). If we follow Upbit’s cash flow, we will see the coincidence.”


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Cryptocurrencies# Bitcoin Price# Markets# WhaleAdd reactionAdd reactionRead morePrice analysis 3/15: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, DOTBitcoin drops 9% from its ATH as the market shows signs of being ‘overheated’How low can BTC price go? Bitcoin analysis points to $45K

News Feed

Why MIND of Pepe is the Best Crypto to Buy Now as Pepe Enjoys Life in Green
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Robert Kiyosaki Warns About Stocks, Bonds, Mutual Funds — Says Bitcoin Best for ‘Unstable Times’
Robert Kiyosaki Warns About Stocks, Bonds, Mutual Funds — Says Bitcoin Best for "Unstable Times" The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, ha
Could Bitcoin Break $100,000? Analysts Predict 6-Figure Milestone
Este artículo también está disponible en español. Once again, Bitcoin has brought excitement to the cryptocurrency landscape as analysts predict an upward trajectory for
SEC Intervenes in Binance US Acquisition of Bankrupt Crypto Lender Voyager Digital’s Assets
SEC Intervenes in Binance US Acquisition of Bankrupt Crypto Lender Voyager Digital"s Assets The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase a
William Suberg7 hours agoBitcoin to $1M post-ETF approval? BTC price predictions diverge wildlyBitcoin ETF excitement is everywhere, but short-timeframe BTC price morale is wearing thin.8644 Total views40 Total sharesLis
Indian Finance Minister: Crypto Ban, Regulation Effective Only With Significant International Collaboration
Indian Finance Minister: Crypto Ban, Regulation Effective Only With Significant International Collaboration India’s finance minister has informed parliament that the central
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ran
Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token
Linkin Park’s Mike Shinoda Auctions his First Non-Fungible Token Musician Mike Shinoda, guitarist and founding member of the American rock band Linkin Park, ha
Bitcoin price taps $62K sell wall as analyst sees ’up only’ for crypto
William Suberg9 hours agoBitcoin price taps $62K sell wall as analyst sees ’up only’ for cryptoBitcoin bulls charge into key BTC price resistance as the US Federal Reserve gives a clear signal regarding interest rate
NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive
NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive After non-fungible token (NFT) sales soared during the month of August, the first week of S
Ethereum Funding Rates Hit Key Bullish Level – Price Surge Ahead?
Este artículo también está disponible en español. FollowingDonald Trump’s victory in the US presidential election on November 5, Ethereum (ETH), alongside the general c
2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022
2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022 It’s been more than 100 days since the end of 2022, and the price o