Analysis: Satoshi-era whales dumping BTC sparks widespread debate over Bitcoin's ideological direction
According to CoinDesk, Galaxy Digital disclosed this weekend that it had facilitated a $9 billion Bitcoin transaction for a Satoshi-era investor, totaling more than 80,000 coins. The company said the transaction was one of the largest nominal BTC transactions to date.
Cryptocurrency analyst Scott Melker believes that the confidence of many early whale investors has been shaken and they choose to sell at the current market price. This comment has sparked heated debate among cryptocurrency industry influencers and traders. Some people pointed out that selling Bitcoin does not necessarily mean that investors have given up long-term holdings of the asset. For example, Adam Back is still accumulating BTC. However, as Bitcoin is increasingly absorbed by traditional financial markets through ETFs, corporate funds and custody solutions, the crypto community is worried that Bitcoin has strayed from its cypherpunk roots.
