Odaily News James Butterfill, head of research at CoinShares, said on X that while miners have sold a record $1 billion worth of bitcoin this year, the figure is misleading because miners have also produced a record amount of bitcoin at the same time. In terms of proportion, miners have sold a small percentage of their total bitcoin holdings, 1% so far this year, compared to 2% in 2018 and 2015.