RATE Group | Bitcoin’s Surprising Selloff; Is Satoshi Cashing Out?
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Bitcoin’s Surprising Selloff; Is Satoshi Cashing Out?

24 May Bitcoin’s Surprising Selloff; Is Satoshi Cashing Out?

Posted at 20:29h in Bitcoin News by

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CRYPTO MARKETS

Amid speculation that bitcoin’s enigmatic creator Satoshi Nakamoto might be selling, bitcoin slumped into the holiday weekend, falling more than 10% from its weekly high to less than $9,000 on Thursday. Forty bitcoins which were mined only a month after the cryptocurrency’s origin in 2009 changed hands for the first time, scaring investors who believe a handful of early whales—the anonymous Nakamoto and his inner circle—are sitting on billions of dollars worth of bitcoin.

“While it is unclear if it was Satoshi Nakamoto, it is likely to be a very early-stage adopter of the crypto-asset, and the timing of the rumors themselves appear to be the source of yesterday’s flash crash,” market analyst Adam Vettese wrote to clients.

Not all insiders are shaken….

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