What is Bearwhale?
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Let's find out Bearwhale meaning, definition in crypto, what is Bearwhale, and all other detailed facts.
A bearwhale in the crypto world is someone who possesses a high number of cryptocurrencies. Bearwhales use their assets to significantly lower the market price. This way, they make a profit for themselves.
The term originated from the username “BearWhale” belonging to a Bitcoin (BTC) trader in 2014. He came up with a plan to sell 30,000 BTC at $300 per coin. The entirety of these assets would have come up to $9 million. In April 2022, this amount of BTC is worth over $1 billion.
Bearwhale's sale was placed through Bitstamp. The volume impacted the Bitcoin markets as the BTC price temporarily stalled at $300, with BearWhale selling all the coins as hoped.