One of the Biggest Bitcoin Whales in History Just Cashed Out $9 Billion
Institutional crypto firm Galaxy reported the sale of over 80,000 Bitcoin, worth more than $9.3 billion, on behalf of a Satoshi-era investor, marking one of the largest transactions in crypto history. This sale is notable as it represents one of the earliest significant exits from the digital asset market by a mysterious Bitcoin whale, who moved these coins after holding them for 14 years. Blockchain analyst JA_Maartun confirmed on social media that the transaction involved the same coins associated with a wallet service, MyBitcoin.com, which was hacked and shut down in 2011. Galaxy did not provide further comment. Typically, a Bitcoin whale is defined as holding at least 1,000 BTC. Despite the extensive sale, Bitcoin's market price only dipped slightly, indicating resilience in the cryptocurrency market. This incident also highlights the growing activity of Bitcoin whales, who are increasingly demanding more Bitcoin after long periods of holding it, reflecting a trend of accumulation among large investors in the crypto space.
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