Institutional crypto firm Galaxy announced the sale of over 80,000 Bitcoin, valued at approximately $9.3 billion. This record transaction was made on behalf of a Satoshi-era investor who had held these coins for 14 years. Galaxy described the sale as one of the largest Bitcoin transactions in crypto history and a significant exit from the digital asset market. Analysts speculated that the coins originated from an early wallet service known as MyBitcoin.com, which had shut down in 2011 after a hack. Despite the substantial sale, Bitcoin's price remained relatively stable, only dipping by 1% in the following days, trading around $117,000, significantly below its all-time high. The movements of large quantities of Bitcoin often raise concerns about potential selling pressure in the market, although current research indicates that demand from Bitcoin whales, or large holders, is growing stronger.

Source đź”—