In one of the largest single-asset transactions in cryptocurrency history, an early Bitcoin investor has sold 80,000 BTC through Galaxy Digital. The sale, valued at over $9 billion based on current market prices, was confirmed by Galaxy Digital in a press release, describing it as one of the most significant exits from the digital asset market.
The identity of the investor, described as a "Satoshi-era" participant, was not disclosed. However, Galaxy confirmed that the transaction was part of the investor's broader estate planning strategy. The Bitcoin originated from wallets created in April and May 2011 and had been dormant for years before being transferred to Galaxy Digital earlier this month.
The sale caused some short-term volatility, with Bitcoin's price briefly dipping below $115,000. However, the market showed remarkable resilience. The price quickly rebounded, trading back above $117,000 shortly after the sale's completion was announced. Analysts commented that the 80,000 BTC sale was "fully absorbed" by the market, signaling a maturation in crypto markets where large transactions no longer trigger excessive volatility.
Galaxy Digital's successful execution of this massive trade underscores the growing role of institutional intermediaries in providing liquidity for large crypto holdings while minimizing market disruptions. This event marks a significant shift toward institutional adoption of Bitcoin, as early investors seek to diversify portfolios or address estate planning. The market's ability to absorb a $9 billion sale without prolonged instability sets a positive precedent for managing future large-scale legacy crypto holdings.