A mysterious address has been generating buzz for several months due to its recurring purchases in batches of 100 bitcoins.
“Mr. 100” refers to the bitcoin address “1Ay8v” which holds a balance of 53,205 BTC. Currently, only 13 addresses hold more bitcoins.
According to information from the account @HODL15Capital, Mr. 100 has been shopping since November 2022 (before the FTX collapse).
The individual responsible for these transfers remains silent, leading to widespread speculation about who is behind this bitcoin address. These speculations are interesting in that they may reveal where demand could come from in the coming months.
It has been variously suggested that it could be:
Accumulation by Hong Kong tycoons in anticipation of Bitcoin ETF approvals,
The Qatari sovereign fund (475 billion dollars in assets under management),
Another Middle Eastern sovereign fund (Abu Dhabi, Kuwait, etc),
The Upbit exchange,
A Singaporean billionaire,
Jeff Bezos.
This Saturday, the blockchain analytics firm 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 this by highlighting the strong and regular links of the address with other addresses known to belong to Upbit. This would therefore be a case of internal transfers within the exchange.
Indeed, Mr. 100’s address mainly receives bitcoins from the consolidation of funds on Upbit deposit addresses. Furthermore, Arkham notes that a portion of its outbound flows contribute to funding Upbit’s hot wallets that facilitate client withdrawals.
Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
A
A
Nicolas T.
Bitcoin, geopolitical, economic and energy journalist.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Mr. 100 is currently the 12th-largest Bitcoin holder, with over 65,155 BTC, according to Bitinfocharts data. The address is sitting on $1.4 billion in unrealized profit, up around 33% on its all-time Bitcoin holdings, with an average buying price of $36,572 per BTC. The wallet is currently worth over $3.86 billion.
The German-born computer programmer lost a crucial piece of paper containing his password a decade ago - and he's been unable to access his savings ever since. Now, Thomas faces being locked out of his savings forever – after using up eight of his 10 attempts to get back into his crypto account.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
A 50% gain this year would boost Bitcoin's price to $65,800 by Jan. 1, 2025, while another 50% gain would drive its price to $98,700 by Jan. 1, 2026. So if Bitcoin merely replicates its average annual growth rate from the past decade, its price could approach $100,000 by the end of 2025.
Bitcoin was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Nakamoto published a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," outlining the concept of a decentralized digital currency. 1 The true identity of Satoshi Nakamoto remains unknown to this day.
Stefan Thomas lost the password to an encrypted USB drive holding 7,002 bitcoins. One team of hackers believes they can unlock it—if they can get Thomas to let them. At 9:30 am on a Wednesday in late September, a hacker who asked to be called Tom Smith sent me a nonsensical text message: “query voltage recurrence.”
What is a Bitcoin Private Key? A Bitcoin private key is a 256-bit number, which means it's a string of 256 binary digits (0s and 1s). Creating a private key by flipping a coin 256 times isn't secure, so it's best to use specialized tools for generating high-entropy private keys.
Notably, Cathie Wood, CEO of Ark Invest, predicted that bitcoin could reach an astounding $1.48 million by 2030. Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent.
The ongoing positive trend gives buyers the advantage. Market participants are expected to strive to keep prices above $78,000, potentially ending the year strong. With positive momentum building, Bitcoin's price is anticipated to range between $79,000 and $85,000 by year-end.
The hard cap is reached through the process of halving, where the reward for mining new blocks is cut in half approximately every four years, gradually reducing the rate at which new bitcoins are created until the hard cap or limit is reached.
The unknown entity dubbed “Mr. 100” has bought 100 BTC nearly every day including weekends since February 14th – accumulating a total of 3806.54 BTC worth $207,996,959 in that brief time frame.
The limited supply of Bitcoin, capped at 21 million coins, is a deliberate design feature built into the Bitcoin protocol by its creator, Satoshi Nakamoto. There are several reasons for this: scarcity, inflation hedge, network security and economic model.
Hobby: Reading, Ice skating, Foraging, BASE jumping, Hiking, Skateboarding, Kayaking
Introduction: My name is Cheryll Lueilwitz, I am a sparkling, clean, super, lucky, joyous, outstanding, lucky person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
