Bitcoin Whale Moves 80,201 BTC to Galaxy Digital
In early July, a Satoshi-era Bitcoin whale moved a total of 80,201 BTC—worth about $9.6 billion—into custody with Galaxy Digital across two deposits: 40,009 BTC on July 2 and 40,192 BTC on July 6. This Bitcoin whale also routed over 6,000 BTC to Binance and Bybit exchanges. Blockchain analytics firm Lookonchain flagged these as the whale’s first onchain transfers since 2011 and 2021. After Bitcoin topped $122,000 on July 14, its holdings surged above $9.7 billion. Komodo CTO Kadan Stadelmann suggests the transfers reflect profit-taking, wallet consolidation, or funding new ventures rather than an imminent sell-off. Pseudonymous trader Marty Party speculates Galaxy Digital may have acquired the 80K BTC, selling a portion and retaining the rest for operations.
Neutral
In the short term, the whale’s transfers could stir market sentiment and trading volume as observers watch for signs of selling. However, moving the bulk of funds into Galaxy Digital custody reduces immediate sell pressure. Long-term, these withdrawals align with portfolio rebalancing—profit-taking, enhanced security, or funding new ventures—rather than a bearish catalyst. Industry commentary suggests the funds will remain under managed custody or be used strategically, underscoring a neutral impact on Bitcoin’s price trajectory.