I mean how many coins do these idiots have?
They just sold 20k to saylor over the weekend and have more to dump on the rest of the market this morning?
I donβt buy that this is all organic selling by βOGsββ¦I hate to be a conspiracy theorist but I think Coinbase is playing games and I just canβt wait until they get smoked and go out of business.
Play stupid games and win stupid prizes
I agree there is likely some paper Bitcoin involved somewhere, probably at Coinbase. But there are many OGs unloading 1000s of Bitcoin they bought for cheap years ago.
Again how many OGs still have 1000s of bitcoins to dump? Saylor has accumulated close to 500k coins and ETFs are vacuuming up a ton also.
Also if you were an OG with thousands of coins why are you dumping your entire stacks here? I can understand peeling off maybe 100 coins to upgrade lifestyle, buy some new toys or take a sick vacation but wtf do you need to dump thousands of coins to sit on a stack of fiat?
I think many are selling just for life upgrades but you can see we are still at elevated long term holder selling. 1-2 year holders are stable/declining.
