Saving and holding for long term will profitable for us. But that will not happen to many people because most people will be panic when something bad happen to the market. We can take a look what happen in the market before when many people feel that they are tricked to buy Bitcoin but suddenly the price is down a lot. They feel desperate and not learn more to know how that can happen.

But if they can still patient and hold Bitcoin for long term, they will see the price will start rising. They will smile if the price pass on their buy price because the profit come to them.

Did he buy those 3400 coins all at once? And now suddenly wants to sell it all at once after all these years?
That's crazy. People with large amounts to invest usually dollar cost average over time.
DCA when buying and DCA when selling. That applies to any kind of investment not just bitcoin.

Because no one can time the market perfectly.

Unless this guy just got really lucky or is some kind of psychic.
If not then I might find this story to be a little suspicious.

If it were me, after tripling or quadrupling my investment with millions in profits I would begin cashing out
a little bit at a time, maybe by selling 50 to 100 coins each year. Because I want to enjoy some of my rewards.

Especially in the early years of bitcoin when volatility was the most extreme. Whenever it dumps 80% who knows if
it will go back up again? I don't know how you can hold on to such a large amount of unrealized gains for so long,
without cashing out at least some of it over time. It would be extremely hard if not impossible for most to resist the temptation.

More analysis is needed to prove it on the blockchain, but I do think it's true. Although this news may be done to spike some interest toward such an amount of BTC, the info should of been collected from somewhere

As I saw in some replies about that event on reddit:
"... Moved it right into Saylor's wallet"

What makes people hesitant about investing in Bitcoin and how investor power can hold Bitcoin for a long time.
It's up to the owner of that Bitcoin whether they want to sell it all or not. This should be proof that nothing is impossible if people do it.

I think what the Bitcoin owner is doing is preparing to welcome the new ATH especially this May according to the return data will be the best month for Bitcoin prices.
If he sold everything, it was the wrong strategy in my opinion.

He waited long enough to reap his reward, in any way he sees fit, imo.