One Of The Biggest Satoshi-Era Bitcoin Investors Cashing Out $9 Billion Reignites Questions About OGs Losing Confidence
Main Idea
An early Bitcoin whale sold 80,000 BTC after 14 years, sparking debate about whether this signals declining faith in Bitcoin or is part of estate planning, while analysts argue Bitcoin remains revolutionary despite institutional adoption.
Key Points
1. An unknown Bitcoin whale transferred 80,000 BTC (worth ~$9.3 billion) after holding for 14 years, raising questions about their motives.
2. Crypto analyst Scott Melker suggested early whales may be losing faith in Bitcoin, triggering debate on X.
3. Mike Alfred of Alpine Fox countered that personal sales don't reflect on Bitcoin's value, noting investment priorities change over time.
4. Matt Hougan of Bitwise Invest argued Bitcoin remains revolutionary as the first global money backed by logic and community rather than state power.
5. The sale occurred as Bitcoin traded ~3.5% below its all-time high, with price impact unclear in the short term.
Description
Institutional crypto company Galaxy announced Friday that it had liquidated a historic 80,000 Bitcoin — worth around $9.3 billion at the time — for a Satoshi-era BTC investor. The massive exit prompted prominent crypto analyst Scott Melker to suggest that some early whales are losing faith in Bitcoin (BTC), sparking a heated debate on the
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