Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
I agree with this, because the pope could have bought it cheaply and pulled it to prevent the exchange from going bankrupt and not keeping it there, I see here it seems like he just pulled out of BTC from the coincheck exchange originating from Japan, I described many people throwing away bitcoin cheaply and let the big whale take it from his hand, but I will laugh again when high prices people buy it back, big whales have strong trust
Man If I have that huge amount of BTC I would really store it somewhere cold. Exchanges these days are very incompetent dealing with such huge amount.