Slaying of the BearWhale
- Bitcoin
- CT Lore
- Culture
An anonymous trader placed a massive 30,000 BTC sell wall at $300 on Bitstamp, roughly $9 million worth, well below the ~$350 market price. The order froze Bitcoin's price for hours as the community watched. Dubbed 'the BearWhale,' the seller was methodically 'harpooned' by buyers who spent six hours absorbing the entire wall. When it finally cleared, Reddit erupted in celebration ('WE JUST HARPOONED THAT MOTHERF***ER!'). The BearWhale later revealed himself on Reddit, explaining he'd lost faith during the scaling debates after buying BTC around $8. He admitted his fears were unfounded and bought back in during 2017.