Institutional crypto firm Galaxy announced that it sold over 80,000 Bitcoin—valued at more than $9.3 billion—on behalf of a long-time investor, considered one of the largest transactions in crypto history. This sale represents a significant exit from the digital asset market, as the Bitcoin was held for 14 years by a Satoshi-era whale who recently moved the coins. Blockchain analysis clarified that the coins sold were linked to the same investor who used Galaxy's services. Notably, these Bitcoins were traced back to an early Bitcoin wallet service, MyBitcoin.com, which went offline in 2011 due to a hack. Although Galaxy declined to provide further comments, industry experts highlighted that the activity of such whales often signals potential selling pressure in the market. Despite this substantial sale, Bitcoin's price remained stable, dipping just 1% over the day, trading close to $117,000, and remaining significantly below its all-time high.

Source 🔗