Keith Owen Gunden sold all his Bitcoin, worth $1.3 billion

Owen Gounden, one of the most famous and wealthiest early Bitcoin investors, has decided to sell all of his Bitcoin holdings. This news has caused widespread controversy in the crypto industry, especially given current market trends, where retail traders are fleeing the market and institutional investors are actively buying Bitcoin ETFs.

Selling Bitcoin

On November 20, 2025, a wallet linked to Gounden transferred the last 2,499 BTC, equivalent to approximately $228 million, to the Kraken crypto exchange. This event marked the final chord in his investment strategy, as since October 21, he had sold a total of 11,000 BTC, worth approximately $1.3 billion. Gounden thus completely liquidated his Bitcoin holdings, attracting the attention of analysts and investors.

Gunden's Story

Gunden is the eighth-richest person in the crypto industry, with a net worth of $561 million, according to Arkham. He was an early arbitrage trader, actively trading on exchanges like Tradehill and the now-defunct Mt. Gox. It was through these early investments and trading strategies that he was able to accumulate his fortune in digital gold.

Institutional Investments in Bitcoin ETFs

Amid Gunden's selloff, institutional investors continue to actively buy spot Bitcoin ETFs. On November 19, institutional investors' share of these funds reached 40%, a significant increase from 27% in Q2 2023. This indicates growing interest from major players, despite concerns about the potential end of the market bull market.

Institutional Investment Data

In his report, analyst Root noted that the 40% figure is based on data from large institutional investors and is a conservative estimate. Only those organizations with assets exceeding $100 million are required to disclose their investments. This means that the actual share of institutional investors may be even higher.

Despite massive selling by other investors, institutions continue to hold their positions. Data from Farside Investors shows that $2.8 billion has been withdrawn from ETFs since the beginning of November, highlighting the current volatility in the market.

In Conclusion

Owen Gounden's decision to sell all of his Bitcoin, worth $1.3 billion, was a significant event in the crypto industry. Despite his exit, institutional investors continue to actively buy Bitcoin ETFs, which may indicate a change in the dynamics of the sector. While retail traders are exiting the market, major players appear to see the current situation as an opportunity for further investment. This creates an interesting contrast and highlights the complexity and multifaceted nature of the cryptocurrency market.