26.07.2025 08:45
A monumental transaction in the cryptocurrency market has recently transpired. Galaxy Digital, the financial services firm headed by Mike Novogratz, confirmed the sale of over 80,000 bitcoins on behalf of a long-time holder, a transaction exceeding $9 billion. This represents one of the largest cryptocurrency sales ever recorded, according to various sources.
This substantial sale, executed on Thursday, involved the movement of approximately $4 billion in Bitcoin to various exchanges, as tracked by Arkham Analytics. While transferring cryptocurrency to exchanges doesn't automatically signal a sale, subsequent withdrawals of roughly $1.15 billion in stablecoins by Galaxy Digital strongly indicate a significant portion of the Bitcoin holdings were indeed liquidated. The seller, described as an early adopter from the Bitcoin's infancy in the early 2010s or even before, employed this transaction as part of a comprehensive long-term estate planning strategy; their identity remains undisclosed.
The sheer scale of the sale sent ripples through the market. Though the immediate impact wasn't catastrophic, the influx of such a large volume of Bitcoin into circulation caused temporary price volatility. Bitcoin, which had dipped below $115,000 earlier in the week, experienced a modest rebound to $117,200 following the news, yet still closed down 1.2% for the 24-hour period. This price fluctuation, occurring despite increased trading activity, reignited discussions surrounding Bitcoin's valuation and market liquidity, underscoring the ever-present dependence on the next buyer's willingness to pay.
Coincidentally, Citigroup analysts Alex Saunders and Nathaniel Rupert published a report on the same day, delving into updated valuation models and market trends. This timely report offers valuable context to the significant event and its potential implications for the future of Bitcoin's price trajectory. The release of these early Bitcoin further highlights the ongoing evolution and maturation of the cryptocurrency market.
