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- 🍁 Golden Autumn, Big Prizes Await!
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Willy Woo: The holdings of whales holding 100,000 to 1,000,000 BTC have decreased by about 40% over the past 8 years.
Gate News bot news, on June 3, on X, on-chain analyst Willy Woo posted that "whales" holding over 10,000 Bitcoins have been "selling" since 2017, which answers the question of who is dumping Bitcoin at a time when institutions and sovereign nations are competing to buy billions of BTC.
He explained: "Most of these Bitcoins were purchased at prices ranging from $0 to $700 and held for 8 to 16 years."
The chart shows that over the past eight years, the supply of Whale entities holding between 10,000 and 100,000 Bitcoins has been steadily declining. During this period, the number of Bitcoins held by these entities has decreased by approximately 40%, from 2.7 million to around 1.6 million BTC.
Woo stated that considering the current price level of Bitcoin, investing in the short term is not wise, but in the next 10 years, it "could be one of the best investments you have seen in your investing career."
Source: Cointelegraph