Who Is "Mr 100"?

Someone has been buying vast amounts of bitcoin in 100 BTC tranches, and it's not the ETFs.

Is Mr 100 a sovereign wealth fund?

A mystery whale has systematically been scooping up bitcoins, accumulating a fortune in crypto.

The buyer appears to be based in South Korea, and has a familiar pattern. Almost every day, and sometimes multiple times per day, he buys around 100 BTC.

This pattern started back in November 2022, right as bitcoin was bottoming from its year-long bear market. 15 months later, despite bitcoin closing in on all-time highs, "Mr 100" hasn't stopped buying. He appears to be an expert at timing the market, but knows the value of DCA buying, too. His wallet now holds over 54,000 BTC, worth over $3.5 billion.

Mr 100's wallet screenshot
Mr 100 is a relentless buyer.

Who Is He?

We know a little about Mr 100, based on some research from Twitter sleuths who have scoured the blockchain for evidence, including timestamps and exchange addresses. He's located in Asia, for a start, and we know this address is not one of the ETFs (they're all known, and apart from anything else, it long predates the launch of ETFs). His buys have been linked to Binance and Kucoin.

Mr 100 is buying in size, sometimes taking more than the entire daily supply of newly-mined bitcoins.

There aren't many individuals with the funds to do what Mr 100 is doing. It's possible this is another corporate treasury; perhaps someone else is doing what Saylor did for Microstrategy.

Max Keiser's theory? It's Qatar, an oil-rich country looking to diversify its portfolio.

Max, of course (though we love him), is not always the most reliable source of news. His information often owes more to enthusiasm than accuracy.

Is Qatar Really Ready To Spend $500 Billion On BTC?
We love Max, but sometimes he says things that don’t share a close connection to reality.

With that in mind, though, nation-state adoption is clearly the next stage for bitcoin. It will happen at scale, and most likely this cycle. Has it started already? Quite possibly. But we haven't had confirmation of that—yet.

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