Summary
TLDR: A huge Bitcoin whale named “Mr. 100” with over 52,996 Bitcoin worth $3.5 billion has been making significant purchases since November 2022. It was revealed to be an Upbit cold wallet, suggesting it belongs to an established cryptocurrency exchange rather than an individual entity. This sheds light on the importance of cold wallets in managing digital assets securely.
Key Points
1. The emergence of a colossal Bitcoin whale named “Mr. 100,” with a wallet holding over 52,996 Bitcoin valued at more than $3.5 billion, has caught the attention of analysts and observers.
2. Mr. 100 has been on an aggressive accumulation path since the downfall of crypto exchange FTX in November 2022, increasing its holdings by at least 100 BTC daily since mid-February 2023. The wallet’s behavior suggests a broader strategy, with significant transfers from a secondary wallet following a similar pattern since 2019.
3. Speculations about the true identity of Mr. 100 range from a Hong Kong financial institution preparing for Bitcoin ETFs to sovereign wealth funds from the Middle East or a tech titan’s secret cryptocurrency venture. However, Arkham Intelligence’s investigation suggests that Mr. 100’s wallet is actually an Upbit cold wallet, indicating its association with an established cryptocurrency exchange.