Bitcoin OG Sells Entire $1.3 Billion Portfolio; Market Impact Unfolding

Renowned Bitcoin whale Owen Gunden has sold his entire 11,000 BTC holdings worth approximately $1.3 billion. This marked the culmination of a weeks-long selling spree and involved multiple large transfers to the Kraken exchange. The move signifies the final exit from a long-term investment position for one of the earliest Bitcoin investors. Gunden’s history with Bitcoin dates back to 2011, when BTC was in its infancy, and he held his position through several market cycles. Analysts are now monitoring the potential implications of this significant sell-off on the cryptocurrency ecosystem.