Overview
- Owen Gunden, linked by Arkham to early Bitcoin buying in 2011, transferred roughly 11,000 BTC to centralized exchanges in recent weeks.
- Arkham highlighted a final transfer of about $230 million in BTC to Kraken after earlier moves exceeding $344 million to the exchange.
- Arkham estimates the transactions represent a $1.3 billion exit, though coins sent to exchange addresses could also reflect custody or yield strategies.
- The activity reshaped Gunden’s tracked standing, with Arkham showing his on-chain valuation falling from about $1.4 billion in July to $561 million by November 12.
- Bitcoin has slid roughly 31%–32% from its recent record to below $86,000, and reports note lowered price targets from prominent firms during the pullback.