- Max Keiser reveals a new contender for Mr. 100.
- Mr. 100 has resumed stacking Bitcoin following a week-long break.
- Oil-rich nations seek to diversify into the technology sector.
Bitcoin’s transition from a tool of social and political change to an institutional darling has accelerated in recent years. The approval of Bitcoin ETFs in the US in January opened the floodgates for corporations to gain regulated exposure to the digital asset. This landmark moment solidified Bitcoin’s status as a mainstream financial instrument, leaving behind its fringe cypherpunk origins.
While Bitcoin was envisioned as a decentralized, peer-to-peer system accessible to all, its skyrocketing price has made acquiring a full coin prohibitively expensive for many. However, this is not a problem for the mysterious Bitcoin whale known as “Mr. 100.” The identity of Mr. 100 remains shrouded in secrecy, but commentator Max Keiser has put forward a new potential contender.
Identity of Bitcoin Whale Takes New Turn
The identity of the mysterious Mr. 100 Bitcoin whale has been the subject of intense speculation, with Qatar initially seen as the most likely candidate behind this wallet. Still, Keiser recently threw a new contender into the mix, the United Arab Emirates (UAE) state of Abu Dhabi.
Keiser did not reveal the source of this new claim, meaning the true owner of this massive Bitcoin wallet remains unknown. Given the sheer capital required to buy 100 BTC regularly, oil-rich nation-states have been floated as potential candidates, while others have speculated that the wallet could belong to a large investment fund or even a bank.
Sponsored
After a brief pause in buying from April 4, Mr. 100 resumed their Bitcoin purchasing campaign on April 10. On that day, the wallet added another 106.13 BTC for $7.25 million, bringing their total holdings to 59,008 BTC, valued at $4.19 billion at the time of writing.
Although it’s unclear whether Abu Dhabi is behind the Mr. 100 BTC wallet, there is no disputing the Emirates’ intention to attract crypto firms to the region.
Abu Dhabi’s Crypto Intentions
In recent times, Abu Dhabi has actively pursued crypto firms by offering a highly favorable regulatory environment. As a result, numerous crypto companies have chosen to establish themselves in the emirate’s international economic zone, the Abu Dhabi Global Market (ADGM). Industry giants like Binance and OKX are among these companies, drawn by the region’s investment opportunities and crypto-friendly policies.
Sponsored
Officials from the ADGM and Abu Dhabi’s sovereign wealth fund Mubadala have actively courted crypto businesses, intent on turning the emirate into a leading “crypto hub.” This strategic push is driven by Abu Dhabi’s ambitions to foster innovation in the financial technology space and further diversify its economy beyond oil.
On the Flipside
- The US SEC intends to sue Uniswap. CEO Hayden Adams says the company will fight the charges but expects a long and drawn-out battle that may end up at the Supreme Court.
- The Abu Dhabi Investment Authority wealth fund recently announced a shift in its investment strategy to technology, including AI and blockchain.
- Whales concentrate supply, making BTC more centralized.
Why This Matters
The emergence of Abu Dhabi potentially being behind the Mr. 100 Bitcoin whale account carries significant geopolitical implications, particularly concerning Bitcoin’s status as a legitimate commodity.
Learn more about Bitcoin’s growing freedom narrative here:
Bitcoin Deemed ‘Bad For Dictators’ by Human Rights Foundation
Find out more on Nexo’s bid to improve the reputation of crypto exchanges here:
Crypto Exchanges Confront Public Scrutiny: Nexo Leads Way
