Cryptocurrency

Fortune

Bitcoin

when

Crystal

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-whale-mr-100-builds-staggering-cryptocurrency-fortune" rel="noopener noreferrer nofollow">Bitcoin Whale “Mr. 100” Builds Staggering Cryptocurrency Fortune</a><br></p>
<p style="text-align: justify">A mysterious figure in the <a href="https://en.bitcoinhaber.net/turkey-sets-stage-for-cryptocurrency-market-regulation" rel="noopener noreferrer nofollow">cryptocurrency</a> community, referred to as “Mr. 100,” has been identified as a significant accumulator of <a href="https://en.bitcoinhaber.net/bitcoin-tumbles-5000-after-soaring-to-record-highs" rel="noopener noreferrer nofollow">Bitcoin</a>. Data reveals that this entity has gathered more than 52,996 Bitcoins, an investment exceeding $3.5 billion. The accumulation pattern of Mr. 100 came into the spotlight after a March 15 transaction where the entity purchased 1,000 Bitcoins, capturing the majority of Bitcoins bought by an on-spot Bitcoin exchange-traded fund on that day.</p>
<h2 id="consistent-bitcoin-growth-strategy">Consistent Bitcoin Growth Strategy</h2>
<p style="text-align: justify">Since the collapse of FTX exchange in November 2022, the whale known as Mr. 100 has been consistently expanding its Bitcoin holdings. Daily purchases of at least 100 Bitcoins have been noted since February 14. These transactions are linked to a secondary address that has been making similar-sized Bitcoin accumulations since 2019. HODL15Capital’s analysis suggests that this investor has been methodically increasing their Bitcoin portfolio for years.</p>
<p style="text-align: justify">Speculation is rife about the identity of Mr. 100, with theories suggesting a Hong Kong financial institution, Middle Eastern sovereign wealth funds, a South Korean exchange’s cold wallet, or a secretive tech billionaire could be behind these massive crypto purchases. Unfazed by Bitcoin’s fluctuating prices, Mr. 100 continues to buy large amounts, even when prices hover near peak levels. Consequently, Mr. 100’s wallet is currently the 14th largest Bitcoin holder.</p>
<h2 id="resolution-of-ownership-speculation">Resolution of Ownership Speculation</h2>
<p style="text-align: justify">Arkham Intelligence, a blockchain data analytics firm, has labeled the Mr. 100 wallet as a cold wallet controlled by the Upbit cryptocurrency exchange. They utilized data from Crystal Intelligence to confirm that the wallet’s transactions are consistent with Upbit’s activity since the FTX bankruptcy. Outgoing Bitcoin from Mr. 100 typically goes to an Upbit hot wallet, with transactions often consisting of at least 500 Bitcoins, including some as large as 3,000 Bitcoins.</p>
<p style="text-align: justify">While Mr. 100’s aggressive investment strategy raised many eyebrows in the crypto community, the revelation of the wallet’s connection to Upbit has shed light on the source of the large transactions and the intent behind them.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-whale-mr-100-builds-staggering-cryptocurrency-fortune" rel="noopener noreferrer nofollow">Bitcoin Whale “Mr. 100” Builds Staggering Cryptocurrency Fortune</a></h5>

Bitcoin Whale “Mr. 100” Builds Staggering Cryptocurrency Fortune

Table of Contents

BH NEWS

Other articles published on Mar 15, 2024

Lazarus Group Transfers $12M in Ether; Tornado Cash Under Spotlight

Federal Reserve lists CBDCs as one of 7 ‘key duties’ to Congress

This Cardano competitor is ‘waking up,’ threatens bullish breakout at $80

Bitcoin Maxi Pushes for El Salvador Credit Rating Upgrade Amid Cold Storage Move

Bitcoin (BTC) and Ethereum (ETH) Experience Downturn Amidst Furrever’s Impressive Presale.

Chainlink CCIP revenue surges 180% over 2 months amid ‘massive adoption’

Join our free newsletter for daily crypto updates!