To be fair, this has little to do with NFTs, and more to do with people being fat-thumbed millennials. If you send 444 Bitcoins to someone when you intended to send 444 sats, you'd be just as fucked.
technically... with the 200-week moving average reaching $20,500, it might be reasonable to assert that 44 BTC are worth around $1 million... even though spot price you could get right around double the price... interesting.. spot price is around double the 200-week moving average.
Also, listing the NFT for a $1 million shows the price the fat-fingered shitcoiner had wanted for the NFT, but does not mean that he would have gotten $1 million for it.
I have a lot of confidence that I could get pretty damned close to $1 million if I had 22 BTC that I were to want to sell, but if I am trying to play longer term, I would consider those 22 BTC to have much higher value.. so I would likely ONLY shave off a small portion.. maybe if I was desperate, I might shave off 1-2 BTC, and that would surely be pushing the matter because in accordance with Gresham's law, I should be looking around for other possible ways to accomplish my goals, if for some reason I need some value to transact..
Oh. and considering the 200-week moving average, in my state of hypothetical desperation, I may well have to limit my maximum sale of BTC to about 12% of the 200-week moving average value, which would be 22 BTC x $20,500 = $451,000 which would be $54,120 (12% of $451k) - and at today's BTC price that would be a maximum of 1.32 BTC shaven off for emergency purposes - and likely that would be my BTC shaving off allowance for a whole year and I would have to wait a year if I feel like I need to tap into BTC again. Too conservative? Perhaps? perhaps?
To be fair, this has little to do with NFTs, and more to do with people being fat-thumbed millennials. If you send 444 Bitcoins to someone when you intended to send 444 sats, you'd be just as fucked.
Your goofed to start with when you have over 444 Bitcoins in a hot wallet.
For sure, there would be some needs for better BTC management if either holding all of your BTC in one wallet, and that quantity does not seem like a good one to be working with... $18 million spot price and $9 million 200-week moving average price. Sometimes our coin management might cause us to move a lot of value at once.. Should those coins be split? And how to do it? BIG questions... and a lot of individual discretion for sure.
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