8 Years Ago Today: Bitcoin Traders Slayed the Infamous Bear Whale Who Dumped 30,000 BTC in a Single Trade
Eight years ago today on October 6, 2014, while the price of bitcoin was coasting along at $330 per unit, an anonymous Bitstamp trader placed an order to sell 30,000 bitcoins. Moreover, the trader, now infamously known as the “Bear Whale,” sold the coins at $300 per unit, which put extreme pressure on the nascent bitcoin market that saw roughly $29 million a day in global trade volume. A Look at the October 2014 Bitcoin ‘Bear Whale Incident’ While bitcoin (BTC) is trading for just below the $20K region, approximately eight years ago today, bitcoin traders faced off with the notorious “Bear Whale.” It was October 6, 2014, when the anonymous trader decided to sell 30,000 BTC in a single trade for $300 per coin. At the time, the trader was looking to obtain $9 million from the sale and today, those bitcoins are worth roughly $603 million. When the event took place, the crypto community went wild and it even caught the attention of mainstream media outlets. The price of bitcoin jus