Bitcoin Investor Sells 80,000 BTC for $9B Through Galaxy Digital

A Bitcoin holder has sold 80,000 BTC for $9 billion through Galaxy Digital, in one of the biggest crypto deals during a volatile trading day.

Galaxy Digital Executes $9B Sale for a Long-Time Bitcoin Investor

Galaxy Digital recently completed a huge  Bitcoin transaction involving 80,000 BTC worth $9 billion, marking it as one of the largest notional crypto transactions in history, although details regarding the execution price and date were not disclosed.

The Bitcoin investor made a transfer of 80,009 BTC from a dormant wallet earlier this month and sent the coins to Galaxy Digital between July 16 and 17.

Although the firm did not reveal the identity of the client, it said that the transaction was part of the investor’s real estate planning strategy.

Bitcoin Bounces Back Quickly After Big Sell-Off

Even though the investor sent nearly 30,000 BTC to exchanges, Bitcoin is seen rising back above $117,000 after briefly dropping below $115,000. Analysts say the market handled the sale well.

Bitcoin price has quickly surged back and is right now trading above $117,300, after a brief dip of nearly 4% demonstrating a solid performance after a $9 billion sale.

Jason Williams, analyst and author of Bitcoin Hard Money, highlighted that the market has fully absorbed the entire sale, indicating potential for significant gains. 

Joe Consorti, head of growth at Theya, says that 80,000 BTC, worth $9 billion, was sold into open market order books with minimal impact on Bitcoin’s price.

Bitcoin has been rising this year, recently hitting a new high above $123,000, helped by strong ETF inflows, more company adoption, and positive U.S. regulation.