Galaxy Digital just facilitated one of Bitcoin’s largest-ever transactions, selling 80,000 BTC ($9 billion) on behalf of a long-term holder.
Key Details of the Mega Sale
✅ 80,000 BTC sold (worth $9B)
✅ Held since Bitcoin’s early days (pre-2011)
✅ Linked to MyBitcoin wallets (defunct early exchange)
✅ Estate planning cited as primary reason
The Mystery Behind the Seller
Blockchain sleuths traced the coins to MyBitcoin-era addresses—a wallet service hacked in 2011. Two theories emerged:
🔹 Hacker liquidation? (coins dormant since April 2011)
🔹 Original founder cashing out? (Tom Williams, anonymous creator)
Galaxy embedded an on-chain announcement, sending 1 satoshi to each recipient—a symbolic nod to transparency.
Market Impact & Bitcoin’s Resilience
- Initial dip: BTC briefly fell below $115,000
- Swift recovery: Now trading at $117,000+
- Minimal long-term disruption shows market maturity
Why Sell $9B All at Once? Experts Divided
❓ Slippage concerns: Such a large sale likely caused price impact
❓ Motives questioned: Why the urgency unless buying something major?
✅ KYC likely in place: Galaxy probably vetted the seller thoroughly