A shadowy figure has emerged in the world of Bitcoin, a new enigma known simply as “Mr. 100”. This Bitcoin whale, as large-scale holders are referred to, currently holds an eye-watering 52,996 Bitcoins valued at over $3.5 billion.
According to data monitored by HODL15Capital, “Mr. 100” has been persistently purchasing lots of 100 Bitcoins, dating back to at least 2019. The account steadily continued these transactions, including after the unfortunate collapse of FTX exchange in November 2022. Interestingly, the wallet also received significant transfers from another account showing a similar pattern of regular 100 BTC transactions.
Intriguingly, the individual behind “Mr. 100” has been undeterred by fluctuating Bitcoin prices, even recently snapping up 400 BTC when the cryptocurrency was valued above $72,000. Consequently, these actions have propelled “Mr. 100” to become the 14th-largest BTC holder, collected data from Bitinfocharts reveals.
Awash with speculation, some suggest that this mysterious figure could be linked to powerful financial institutions from Hong Kong or the Middle East, or perhaps even an anonymous tech billionaire. However, the predominant theory put forth by Arkham Intelligence and Crystal Intelligence, both blockchain intelligence outfits, suggests that “Mr. 100” may in fact be the cold wallet of South Korean cryptocurrency exchange, Upbit.
The pattern of Bitcoin parcels being moved to and from a secondary wallet identified as an Upbit hot wallet, provides further credence to this speculation. While there’s rampant speculation about the identity of “Mr. 100,” his leverage in the cryptocurrency market, and regular accumulation of Bitcoins remain hard facts.