Mysterious ‘Mr. 100’ Quietly Buying Bitcoin in Massive Quantities, Say On-Chain Analysts

A Mysterious Bitcoin Accumulator

Cryptocurrency analysts are intrigued by the activities of an unidentified entity known as “Mr. 100,” who has been steadily accumulating Bitcoin (BTC) in large quantities. Since February 14th, “Mr. 100” has been consistently purchasing 100 BTC almost every day, even on weekends, amassing a staggering total of 3,806.54 BTC within a short timeframe.

 Whale Activity Unveiled

Delving deeper into the whale’s activity, it becomes evident that “Mr. 100” has been active since November 2022, gradually accumulating a substantial BTC portfolio. Currently holding 47,192.78 BTC, valued at over $2.5 billion, “Mr. 100” ranks as the 15th largest Bitcoin whale globally.

Potential Connections to Upbit

While the true identity of “Mr. 100” remains shrouded in mystery, some speculations suggest a potential link to the South Korean cryptocurrency exchange Upbit. Crypto sleuth “Mai” points out that the wallet’s activity aligns with the Asian trading session, with a significant portion of transactions originating from Upbit and other exchanges like Bithumb, Binance, and OKX.

Analysis of Transaction Patterns

Examining transaction patterns, analysts observe a systematic approach to BTC acquisition, followed by distribution through layer wallets and conversion to distribution fees. This methodical process, characterized by purchases of exactly 100 BTC, supports the notion that “Mr. 100” may be associated with Upbit, rather than an individual investor.

Market Implications

Despite the intrigue surrounding “Mr. 100” and their significant BTC holdings, Bitcoin continues to experience upward momentum in the market. With BTC trading at $54,672 at the time of reporting, reflecting a 5.7% increase in the last 24 hours, the cryptocurrency market remains dynamic amidst ongoing developments and whale activities.

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