one of the earliest investors in the cryptocurrency market, has completely liquidated his $1.3 billion Bitcoin portfolio. Gunden, who began investing in 2011 when prices were around $1–$3, finalized the sale of his assets on November 20—right before the market’s sharp downturn. His move proved to be remarkably well-timed, as Bitcoin plunged to $83,000 shortly after, driven by pessimism surrounding the U.S. Federal Reserve’s interest rate policy.
This financial turbulence was not limited to the crypto sector. At the same time, U.S. stock markets recorded their steepest one-day drop since April. Concerns among investors about a potential bubble in the artificial intelligence sector overshadowed even the strong earnings reports of tech giant Nvidia. As a result, the significant declines in the S&P 500 and Nasdaq indexes further intensified overall market tension.
