What will happen?
Of course, Satoshi owns wallet addresses that hold about 1 million bitcoins, none of which have been sold since April 2011 until now.
โ ๏ธ But if he happens to sell for a value of 1 million dollars only.
It may be negative in the short term not because of Satoshi converting, as the value of 1 million dollars will not affect the price, but rather the negativity will be due to the panic that will occur among holders, especially individual holders, in the short term.
But if we look at the matter from a broader and somewhat distant perspective, it is positive.
Why is it positive?
First, after the price recovers from this event, Bitcoin will gain greater immunity against the influences that occur due to the movement of large holders' wallets.
Secondly: the lower the holdings of individuals (whales), the higher the confidence, and thus the price becomes more stable.
Imagine that all the supply available for trading is 20 million and no one holds a large quantity. The result is increased confidence and positivity in the long term.