25.07.2025 23:11
A monumental transaction in the cryptocurrency market has recently unfolded, involving the sale of over 80,000 Bitcoins, valued at more than $9.3 billion based on current prices. This unprecedented sale was executed by Galaxy, a prominent institutional cryptocurrency firm, on behalf of a client who acquired these Bitcoins during Bitcoin's infancy, in the Satoshi era. Galaxy's statement confirmed this as one of the largest Bitcoin transactions ever recorded.
The sale represents a significant and early exit from the digital asset market, marking a potentially pivotal moment for long-term Bitcoin holders. Intriguingly, the coins remained dormant for fourteen years before their recent movement, perplexing analysts and sparking considerable speculation within the crypto community. Blockchain analysis by JA_Maartun strongly suggests that these 80,000 BTC, moved earlier this month, originated from the same investor who utilized Galaxy's services for the sale. This conclusion is supported by blockchain data tracing the coins' transfer to Galaxy's designated addresses.
Despite repeated inquiries, Galaxy Digital declined to provide further comment or clarify details surrounding the transaction. Adding another layer of intrigue, Ki Young Ju, CEO of CryptoQuant, a blockchain analytics firm, posited on X that the Bitcoin's origin traces back to MyBitcoin.com, an early Bitcoin wallet service compromised in a 2011 hack. He hypothesized that Galaxy likely facilitated the purchase of these coins from the original owner.
Typically, a Bitcoin whale is identified as an entity possessing 1,000 BTC or more—currently worth approximately $117 million. However, experts from various sources note that identifying whales is complex, as these large holdings may belong to individual investors or early cryptocurrency mining companies. Such substantial sales by whales often trigger speculation and potential selling pressure as the market anticipates further liquidations of their significant holdings.
Remarkably, the market appears relatively unfazed by this massive sale. According to CoinGecko, Bitcoin's price experienced only a minor 1% dip in the 24 hours following the transaction, showing resilience even over a week-long period. While trading slightly below its all-time high of $122,838, at a price around $117,274, the leading cryptocurrency remains relatively stable. Further investigation is needed to fully understand the long-term implications of this historic event.
