Galaxy Digital Executes Historic Sale of Over 80,000 BTC from the Satoshi Era

An early investor sold over 80,000 BTC through the digital asset management company Galaxy Digital. The firm has described this transaction as one of the largest notional trades in Bitcoin’s history.

According to a statement, the sale of coins valued at over $9 billion was part of a broader estate planning strategy by the client. Details of the transaction were not disclosed by the company.

On July 4, for the first time in 14 years, the cryptocurrency owner transferred 80,009 BTC from eight wallets. These coins were sent to those addresses back in April and May of 2011.

The transactions drew the attention of the community and sparked debates regarding the identity of the owner. Speculations included Roger Ver, the CIA, and even Satoshi Nakamoto, the creator of Bitcoin.

During the tracking of subsequent movements of the assets, analysts discovered that these funds were moved to wallets associated with Galaxy. On July 25, amid significant transfers to exchanges, the price of the digital asset dipped to around $115,000.

At the time of writing, the prices had rebounded to approximately $117,300.

Analyst and author of the book «Bitcoin Hard Money,» Jason Williams, noted that the market has fully absorbed this massive sell-off. He believes this shows a readiness for continued growth in the cryptocurrency.

Joe Consorti from Theya emphasized that «80,000 BTC worth over $9 billion were sold on the open market without significantly affecting Bitcoin’s price.»

Meanwhile, leading analyst at BRN, Valentin Fournier, in light of the decline in the first cryptocurrency’s value, did not rule out a potential retest of the support level at $110,000.