One cannot help but feel a certain envy—of the sort usually reserved for those who find themselves in possession of a particularly fine cigar or an unexpected invitation to the Drones Club—when learning of an early Bitcoin (BTC) investor who has just sold 80,000 BTC through Galaxy Digital. This, my dear reader, is being hailed as one of the largest notional transactions in the history of crypto, though, rather like the exact number of scones consumed at a garden party, the precise details of the date and execution price remain shrouded in mystery.
The good folks at Galaxy Digital, ever keen to share their news, first let it slip on PR Newswire late Friday, with a follow-up post on their official blog about 30 minutes later. When CryptoMoon, always eager for a scoop, reached out to Galaxy Digital for more delectable tidbits, the company, with a nod and a wink, confirmed the authenticity of the press release but declined to comment further. Oh, the suspense!
Galaxy, in their typically cryptic manner, did not reveal the client’s identity but hinted that the “transaction was part of the investor’s broader real estate planning strategy.” One can only imagine the sort of real estate one might acquire with such a sum. Perhaps a small island? Or a quaint village in the Cotswolds?
The announcement, naturally, came on a day of heightened volatility for Bitcoin, with the price briefly dipping below $115,000 on Friday, according to CryptoMoon. It’s enough to make one reach for a stiff drink and a comforting volume of Wodehouse.
Data from Lookonchain indicated several large transactions from Galaxy Digital throughout the day, totaling nearly 30,000 BTC, with most of the funds sent directly to exchanges. It’s almost as if someone decided to clean out their attic and discovered a treasure trove of lost jewels.
These transactions were tied to a Bitcoin investor who moved 80,009 BTC from a dormant wallet earlier this month—coins that were later transferred to Galaxy, according to Lookonchain data from July 16–17. It’s a bit like finding an old ticket to a sold-out show, only to discover it’s worth a small fortune.
Despite heightened volatility, sold coins have been “fully absorbed,” analysts say
After a brief drop of nearly 4% on Friday, Bitcoin’s price quickly rebounded and was last seen trading above $117,300, according to CryptoMoon. It’s a bit like watching a game of tennis where the ball bounces back and forth, but the crowd remains on the edge of their seats.
Jason Williams, analyst and author of Bitcoin Hard Money, noted that the entire sale has already been “fully absorbed by the market,” suggesting that prices are poised to move significantly higher. “80,000 BTC, over $9 billion, was sold into open market order books, and bitcoin barely moved,” wrote Joe Consorti, head of growth at Theya, a Bitcoin custody infrastructure company. It’s almost as if the market has developed a taste for the dramatic, much like a well-dressed man at a cocktail party.
Bitcoin’s price has surged this year, recently reaching a new all-time high above $123,000, driven by strong exchange-traded fund inflows, growing adoption in corporate treasuries, and favorable regulatory developments in the United States. It’s a bit like watching a young Jeeves navigate the tricky waters of high society, always emerging victorious and with a smile.
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2025-07-26 00:54