Bitcoin whale Owen Gunden dumps entire $1.3B stack as institutions tighten grip

Bitcoin OG Owen Gunden sells $1.3 billion in BTC as retail panic grows, while institutional ownership of Bitcoin ETFs climbs to 40% despite market fear.

Owen Gunden, one of the richest early Bitcoin holders, has sold his entire Bitcoin position as retail investors flee the market and institutions continue increasing their share of spot Bitcoin exchange-traded funds.

The wallet tagged as Owen Gunden by blockchain data platform Arkham transferred his last 2,499 Bitcoin (BTC) worth $228 million to cryptocurrency exchange Kraken on Thursday.

In total, Gunden’s wallet has sold 11,000 Bitcoin worth around $1.3 billion since Oct. 21, liquidating his entire Bitcoin holdings, according to Arkham.

Read more