Early Bitcoin Investor Sells All 11,000 Holdings for $1.3B

Owen Gunden, a pioneering Bitcoin investor who accumulated the cryptocurrency in its earliest days, completed the sale of his entire 11,000-bitcoin holdings on November 20, 2025, transferring the final 2,499 bitcoins, valued at approximately $228 million, to the Kraken exchange. The transaction capped a selling spree that began on October 21 and totaled about $1.3 billion, according to data from blockchain analytics firm Arkham Intelligence.

Gunden, often described by market observers as one of Bitcoin's original large-scale holders, had maintained his position since 2011, when the asset traded for less than a dollar. He built his portfolio through arbitrage trading on early platforms such as Tradehill and the now-defunct Mt. Gox, establishing a reputation for strategic, low-profile movements in the nascent digital asset space. Prior to the sales, Arkham ranked him as the eighth-wealthiest individual in cryptocurrency, with an estimated net worth of $561 million excluding his bitcoin stash.

The liquidation unfolded amid a sharp downturn in bitcoin's price, which fell below $86,000 on November 20 for the first time since April, marking a roughly 32 percent decline from its early...