Who Is ‘Mr. 100’? The Mysterious Whale Ascending Bitcoin’s Holder Hierarchy

YEREVAN (CoinChapter.com) — A person called “Mr. 100” in the cryptocurrency world has caught people’s attention by getting more than 52,996 Bitcoin tokens BTC. This is worth more than $3.5 billion, as the records on the blockchain show.

Who does the name “Mr. 100” refer to in Bitcoin?

The whale wallet known as Mr. 100 purchased a minimum of 1,000 BTC on March 15. This amount represents 52% of the total 1,907 BTC bought by the top 10 spot Bitcoin exchange-traded funds (ETFs), as reported in a post on X by HODL15Capital.

Since the FTX exchange failed in November 2022, this address keeps getting more Bitcoin. Every day since Feb. 14, it has been getting at least 100 BTC.

The wallet got bigger Bitcoin transfers from another wallet, which has been collecting 100 BTC since 2019. This means that the unknown big Bitcoin holder has been collecting small amounts of Bitcoin for a long time, starting at least in 2019, HODL15Capital says in a post from March 15.

“What I do know is that this is NOT one of the U.S. ETFs. I have all those mapped.” 

Big Bitcoin Buyer ‘Mr. 100’ Keeps Buying as Prices Soar

People are guessing who the big Bitcoin buyer might be because they’re buying so much. It could be a financial group from Hong Kong getting ready for ETFs, the Qatar Investment Authority, wealth funds from the Middle East, a secure wallet from the South Korean Upbit exchange, or maybe a tech billionaire’s secret address.

“Mr. 100” keeps buying more Bitcoin, even when the price is really high. They added 400 Bitcoin on March 12, a day when the price was over $72,000.

After buying a lot of Bitcoin, the “Mr. 100” wallet is now the 14th biggest Bitcoin holder, as shown by Bitinfocharts data.

Upbit Exchange-Linked Wallet Identified by Crystal Intelligence

Blockchain firm Arkham Intelligence says the “Mr. 100” wallet is a secure storage wallet from the Upbit crypto exchange. Crystal Intelligence also looked at blockchain data and confirmed that Upbit owns the mystery wallet.

“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.”

Mr. 100″ has been moving Bitcoin only to a wallet that Arkham’s platform labels as an active wallet for Upbit. They usually send at least 500 Bitcoin at a time, and the two biggest transfers they made were for 3,000 Bitcoin each.

The Crystal Intelligence analytics team has confirmed that Upbit also owns the secondary wallets.

“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.”

So, the “Mr. 100” wallet probably belongs to Upbit, says the anonymous online analyst Defioasis in a March 12 response on X.

“The regular movements of 100 BTC are not purchases but could be Upbit’s unique way of managing cold and hot wallet assets.”

In a post from March 15 on X, HODL15Capital pointed out that a South Korean entity is actively collecting a lot of Bitcoin, referring to the heatmap shown below.

On-chain investigator Mai, using a pseudonym, reported in a March 15 X response that all 14 secondary wallet addresses linked to “Mr. 100″‘s main wallet have completed Know Your Customer verification at Upbit exchange.

“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.”