Bitcoin whipsawed after a post on X saying the Securities and Exchange Commission had approved ETFs for the unit was later denied
Who is "Mr. 100"? The question remains a mystery in the crypto space, but the whale's constant buying activity has brought excitement to the Bitcoin community that has been struggling with price downturns. AFP

KEY POINTS

  • Mr. 100 bought over 300 Bitcoins worth some $19 million on Tuesday
  • The whale went on a buying frenzy earlier in May, acquiring some 4,300 Bitcoins in a single day
  • There is much speculation about Mr. 100's identity but some analysts said it could be a government fund

A famous Bitcoin whale, an individual or entity that hoards the world's first decentralized cryptocurrency, and is dubbed "Mr. 100" in the cryptocurrency space, has restarted his BTC buying spree after about a month of no purchasing activity – the whale now holds nearly 67,000 Bitcoins.

HODL15Capital, a well-known crypto investor whose data compilations have been used by many outlets, revealed that Mr. 100 snapped up over 300 BTC worth more than $19 million on Tuesday.

As per the data, Mr. 100 restarted purchasing Bitcoins on Monday, when the world's top digital asset by market value dipped below $59,000 at one point before recovering above the $60,000-mark. The digital currency is still struggling to hold $60,000. The last purchase before Monday's 113 BTC buy was made on May 19.

Cointelegraph reported in March that Mr. 100's wallet has been adding at least 100 Bitcoins on a near-daily basis since Feb. 14. The latest data supports the information, except for the hiatus Mr. 100 took from May 19 through June 23. Also, the wallet saw an outflow of 490 BTC worth around $4.5 million on June 3.

As of late Tuesday, Mr. 100 amassed 66,916.63 Bitcoins worth over $4.1 billion, and the Bitcoin community celebrated his return to the game of "buying the dip."

Well-followed @invest_answers noted that "you know Bitcoin is a steal when #Mr100 is loading up." Other crypto users had similar thoughts about Mr. 100 "eating" up the digital coin's price downturn.

Mr. 100's identity remains a mystery in the Bitcoiner circle. However, there have been different rumors about the wallet's owner. Some said it could be a financial institution in Hong Kong, a tech billionaire that has yet to be identified by blockchain intelligence analysts, a cold wallet linked to South Korean crypto exchange Upbit, or Qatar's Investment Authority.

There is also speculation that Mr. 100 is not just a single investor but one of the asset managers behind a spot Bitcoin exchange-traded fund (ETF), but some analysts said they wouldn't be surprised if it is revealed that Mr. 100 turns out to be a government fund.

One of Mr. 100's biggest price dip accumulations was on May 5, when he amassed some 4,300 Bitcoins – mostly in batches of around a hundred – according to analyst Rajat Soni.

Meanwhile, Mr. 100 isn't the only whale who snapped up more BTC during the digital coin's downturn. At one point earlier this month, when Bitcoin plummeted to $66,000, whale wallets saw a staggering inflow of over 20,000 BTC. Whale Alert picked up the activity of one whale, who bought nearly 8,000 BTC on the same day.

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