Billionaire Who Praised Bitcoin Four Days Ago Secretly Sold BTC Today—At a Loss

A noteworthy on-chain development has emerged regarding billionaire investor Tim Draper, known for his long-term bullish outlook on Bitcoin. Following his previous optimistic statements, it is alleged that a sell transaction was carried out from a wallet believed to be linked to him.

According to data from the on-chain analytics platform Onchain Lens, a wallet associated with Draper transferred 150.84 BTC, which it had held for approximately a year, to a centralized exchange (likely Coinbase). The total value of this transaction is estimated at approximately $11.62 million, but it is claimed that the transfer resulted in a loss of approximately $2.57 million.

The transfer is being closely watched by market participants because it comes shortly after Draper’s $250,000 price prediction for Bitcoin. However, while there is no official confirmation as to whether the transfer was directly for sale purposes, it is known that moving assets to an exchange is generally considered a pre-sale step.

Known for his early-stage investments, Draper has previously invested in many large projects such as Tesla, Skype, Coinbase, Ledger, and Tezos.

*This is not investment advice.