Crypto billionaire Owen Gunden has moved his Bitcoin to Kraken again.
Date: 2025-10-23 Author: Gabriel Deangelo Categories: BUSINESS
Owen Gunden, one of the most famous early Bitcoin investors, has once again made large transactions, sending some of his coins to Kraken. According to Arkham, as of the end of September, he was the third-largest publicly known Bitcoin owner, behind only Bitcoin creator Satoshi Nakamoto and Tron founder Justin Sun.
Gunden became one of the first arbitrage traders in the early days of Bitcoin, when trading was conducted on Mt.Gox and Tradehill. Thanks to his early investments, he accumulated a substantial fortune—by the fall of 2025, his Bitcoin assets were valued at approximately $1.3 billion.
On October 22, 364 BTC, equivalent to approximately $40 million, were transferred from his wallets to Kraken. Despite this, the trader still holds 10,959 BTC, valued at $1.18 billion at the current exchange rate. Although the actual sale has not been confirmed, the transfer to the exchange itself is generally regarded as a signal to exit the position.
Gunden is known for his periodic selling strategy: he has held Bitcoin since 2013 and often withdraws it during periods when the price reaches local highs. For example, in January 2025, when the BTC price approached $100,000 amid Donald Trump's inauguration, he sold 518 BTC. Earlier, in April 2024, when Bitcoin reached its then-record high of $70,000, Gunden transferred 169 BTC to the exchange, which was worth $11.3 million at the time.
Since early summer, the crypto market has been experiencing a wave of activity from early Bitcoin holders. Amid rising prices, many old wallets, stagnant since 2013–2014, are "waking up." In late September, one such investor transferred his coins for the first time in 12 years, reaping a profit of over $40 million. Shortly before, 1,000 BTC mined in 2014 were transferred from another wallet, earning the owner approximately $100 million.
Experts note that the behavior of such investors can serve as an indicator of market sentiment. Massive transfers of coins to exchanges often coincide with periods of market overheating and a growing likelihood of a correction. Therefore, the movement of funds belonging to Gunden and other long-term holders is currently generating increased interest among analysts and traders.
It is currently unknown whether Gunden plans to sell all the withdrawn coins or merely rebalance his assets. However, the very fact of withdrawing bitcoins from wallets that had remained untouched for months has already become a significant event for the crypto community.
