One of the Biggest Bitcoin Whales in History Just Cashed Out $9 Billion
Institutional crypto firm Galaxy announced a monumental Bitcoin transaction on Friday, selling over 80,000 BTC—valued at approximately $9.3 billion—on behalf of a Satoshi-era investor. Galaxy referred to the sale as one of the largest notional Bitcoin transactions to date, marking a significant exit from the digital asset market. This particular Bitcoin whale initiated the sale after holding the coins for 14 years, surprising many analysts. Blockchain analyst JA_Maartun confirmed that the coins sold were linked to the same investor, with further analysis indicating they originated from MyBitcoin.com, an early Bitcoin wallet service that ceased operations after a 2011 hack. Such large-scale sales by whales can signal market movements, as they often lead to selling pressure among other investors who anticipate similar actions from these major holders. Despite the massive sale, Bitcoin's price has only slightly dipped, remaining around $117,274, not far from its all-time high of $122,838. Analysts note a strong ongoing demand for Bitcoin among large holders, who currently show a preference for accumulating rather than selling their assets.
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