I can put myself in their shoes.
I'd be a little nervous sitting on 1000+ Bitcoin as nation states & corporations sit on the verge of pumping BTC to $1M+.
It's too much wealth & attention for any single individual to have.
I just wanted to seperate money from state, I didn't want to become uber wealthy.
Maybe I'll just sell half & pay the tax?
Yeah that's an interesting point. Some may have been taking out loans along the way and need to pay them off. Some might be diversitfying a portion of their custody into ETFs. Some may think the bull run is over because of the number of days from halving. Some might be rotating into crypto for pump and dumps.
There are many potential reasons.
Yeah - there are so many potential reasons.
It also makes sense that this would occur around the 100K mark.
Each epoch sees more sats distributed into more hands.
I'd prefer they were in the hands of individuals rather than corporations but this was also inevitable.
Hodling is simple but not easy. Looking forward to October.
Let the games begin 🙂
