The details about the 80,000 Bitcoin that was just sold over the past few days:
Over the past few days, **Galaxy Digital facilitated the sale of 80,000 Bitcoin**—worth over $9 billion—on behalf of a Satoshi-era investor, marking one of the largest transactions in crypto history. This event drew major attention due to the size, origin of the coins, and its market impact.
Key details:
- The Bitcoins originated from wallets inactive since 2011, mined when BTC was just a few dollars per coin.
- The identity of the seller remains anonymous; Galaxy only described them as an early holder taking steps for estate planning.
- There is speculation, including by CryptoQuant’s CEO, that these coins may be tied to the 2011 MyBitcoin exchange hack, as the wallets were last active shortly before that incident[4][6][8]. Galaxy neither confirmed nor denied this link, only stating they followed standard compliance checks.
- The BTC was transferred to exchanges and sold, causing a brief **3% price drop**—Bitcoin fell below $115,000 before rebounding above $117,000 within a day as the market absorbed the supply.
- The rapid, large-scale sale triggered about $646 million in crypto liquidations across derivatives markets.
Despite the unprecedented size of the transaction, **the market demonstrated strong resilience**, quickly recovering and maintaining relatively tight trading ranges. This event highlights the significant but declining influence of early “whale” wallets on Bitcoin’s price as the asset class matures and gains depth.
No further major movement from the related wallets has been reported, and the sale is widely regarded as both a landmark transfer and a test of market liquidity.
