Mr. 100": Mapping the Mystery Billionaire Accumulating Bitcoin on a Massive Scale
Summary:
An anonymous Bitcoin (BTC) holder known as "Mr. 100" has accumulated over 52,996 BTC worth over $3.5 billion, causing a stir in the cryptocurrency community. This individual has been amassing Bitcoin since November 2022, and speculation about their identity ranges from Hong Kong financial institutions and Middle Eastern sovereign wealth funds to South Korean Upbit exchange or a tech billionaire. Despite soaring Bitcoin prices, "Mr. 100" continues to acquire Bitcoin, and according to Bitinfocharts, their wallet is currently the 14th largest. The wallet has been identified by blockchain intelligence firm Arkham Intelligence as belonging to the Upbit cryptocurrency exchange.
A Bitcoin (BTC) holder, referred to as "Mr. 100," who has accumulated a BTC stash of approximately 52,996 units worth over $3.5 billion, has stirred intrigue in the cryptocurrency world. The identity of the so-called Mr. 100 remains a mystery. As of March 15, Mr. 100's wallet purchased a minimum of 1,000 Bitcoin, which accounts for about 52% of the total 1,907 BTC acquired by the top ten Bitcoin exchange-traded funds (ETFs), as per a post by HODL15Capital on social media platform X, formerly Twitter.
Transactions of Bitcoin into the said wallet started rolling in from November 2022 when FTX exchange experienced a downfall. Since Valentine's Day, the wallet has been swelling every day with a minimum of 100 BTC. What's more, larger Bitcoin transactions from a backup wallet address, which began inflating with batches of 100 BTC from 2019 onwards, suggest that this crypto-enthusiast has been accumulating satoshis since 2019 according to HODL15Capital.
There's widespread conjecture about the owner of the wallet due to the magnitude of the acquisitions. It could be a Hong Kong financial institution readying itself for ETFs, the Qatar Investment Authority, sovereign wealth funds from other Middle Eastern countries, a cold storage affiliated with South Korean's Upbit exchange, or a tech billionaire's unknown address. Despite Bitcoin prices hovering near record levels, Mr. 100 continues to stock up on the cryptocurrency.
As per Bitinfocharts, the wallet of Mr. 100 currently ranks as the 14th largest Bitcoin holder. The wallet has been identified as Upbit cryptocurrency exchange's cold wallet by Arkham Intelligence, a blockchain analysis company.
Records of transactions associated with this wallet, according to Crystal Intelligence, indicate that it is conforming to the structure of a VASP-type service. The strong consistency of incoming transactions which seem to originate from Upbit only fortify these findings.
On the outgoing transaction side, Bitcoin moves into three distinct clusters. Evidence has also been found that these clusters, subsequent to receiving funds from 1Ay8v, fall under Upbit's possession.
Blockchain analysts suggest that the Mr. 100's regular BTC movements could be Upbit's distinct way of maneuvering its cold and hot wallet assets. This insight was backed up by a social media post from HODL15Capital stating that a South Korean entity is hoarding a significant amount of Bitcoin.
According to another on-chain detective, all 14 secondary wallets linked to Mr. 100's main BTC wallet have successfully passed KYC verification on Upbit exchange, indicating that Mr. 100 might be employing a secondary wallet address to buy BTC, a strategy seemingly similar to Upbit's dealings with altcoins (ETH network).
Please note, this news report is intended for informational purposes and doesn't constitute any form of investment advice. Cryptocurrency investments can be risky, and potential investors are advised to conduct thorough research before making any financial decisions.
Published At
3/15/2024 6:39:00 PM
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