A mysterious address has been creating buzz for several months due to its recurring purchases in bursts of 100 bitcoins.
Mr. 100 bitcoins
“Mr. 100” refers to the bitcoin address “ 1Ay8v » whose balance amounts to 53,205 BTC. Currently, only 13 addresses hold more bitcoins.
According to account information @HODL15CapitalMr. 100 has been shopping since November 2022 (before the collapse of FTX).
With the person responsible for these transfers remaining silent, speculation has been rife as to who is behind this bitcoin address. These speculations are interesting in that they perhaps reveal where demand could come from in the coming months.
It has been suggested in turn that these are:
1) An accumulation by Hong Kong hinges in anticipation of the approval of Bitcoin ETF.
2) From the Qatari sovereign fund (475 billion dollars in assets under management).
3) From another sovereign wealth fund in the Middle East (Abu Dhabi, Kuwait, etc.).
4) The Upbit exchange.
6) A Singaporean billionaire.
7) Jeff Bezos.
This Saturday, blockchain analysis company Arkham revealed that this address most likely belongs to Upbit. Located in South Korea, Upbit is the country’s leading exchange in terms of volumes.
Arkham justified itself by highlighting the strong and regular links of the address with other addresses known to belong to Upbit. These would therefore be internal transfers to the exchange.
Indeed, Mr. 100’s address mainly receives bitcoins from the consolidation of funds located on Upbit deposit addresses. Furthermore, Arkham notes that part of its outgoing flows contributes to financing Upbit hot wallets which facilitate customer withdrawals.
We will still have to wait before seeing Jeff Bezos or the sovereign fund of Qatar embrace bitcoin.
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