A Satoshi-era Bitcoin whale holding 80,201 BTC has moved the remaining 40,192 coins—valued at $4.77 billion—to Galaxy Digital, following an earlier transfer of 40,009 BTC to the asset manager on Tuesday.
The latest transfer was first flagged by on-chain analytics firm Onchain Lens. In total, the whale has moved all 80,201 BTC to Galaxy Digital over the past four days, amounting to roughly $9.6 billion at current market prices.
Meanwhile, blockchain intelligence platform Nansen reports that at least 6,000 BTC from this stash have also been sent to crypto exchanges Binance and Bybit during the same period.
Whale Likely Locking In “Jaw-Dropping Profits”
Blockchain analytics firm Lookonchain first spotted the whale on July 4, when the long-dormant wallet began moving funds for the first time in 14 years. The whale had accumulated most of its Bitcoin through two major deposits: 20,000 BTC on April 2, 2011, and another 60,009 BTC on May 4, 2021.
Speaking to the activity, Kadan Stadelmann, CTO of Komodo Platform, said while the whale’s exact motivation remains unknown, it’s possible they saw this as the right moment to “secure jaw-dropping profits.”
With Bitcoin briefly surpassing $122,000 on Monday and hitting a new all-time high, the whale’s full holdings were worth over $9.7 billion at the time.
Stadelmann also speculated that the individual might simply be seeking financial stability for their family, preparing to launch a new venture, or possibly funding off-grid initiatives aligned with Bitcoin’s self-reliant philosophy.
Alternatively, he suggested the whale may have “mixed feelings” about Bitcoin’s growing institutional adoption, regulatory scrutiny, and integration into traditional finance—developments that could feel at odds with the original crypto-anarchist ethos that defined Bitcoin’s early days.
Bitcoin might not be sold
Some of the whale’s previous transfers to Galaxy Digital were later moved to crypto exchanges, fueling speculation that a major sell-off might be imminent.
However, Komodo Platform CTO Kadan Stadelmann cautioned against jumping to conclusions. He suggested the activity doesn’t necessarily indicate a full liquidation—rather, the whale might be performing “housekeeping toward a more secure wallet strategy” or reevaluating their approach to holding Bitcoin.
“The whale could be investing in a new Bitcoin venture and leveraging their BTC to fund it,” Stadelmann said. “They might also be using Galaxy as an intermediary to redistribute Bitcoin across smaller wallets.”
Adding to the speculation, pseudonymous crypto trader Marty Party suggested in a post on X (formerly Twitter) Thursday that Galaxy Digital may have actually purchased the Bitcoin.
“IMO: They bought all 80k, sold some and will hold some, and use the proceeds to benefit their businesses. Well played. The 80k is off the market,” he said.
Largest Bitcoin hodler 11th richest in the world
Bitcoin’s mysterious creator, Satoshi Nakamoto, became the 11th richest person in the world after Bitcoin surpassed $120,000 on Sunday.
Nakamoto is believed to hold around 1.096 million BTC spread across thousands of wallets—valued at over $131 billion at current prices. In theory, that would place them at number 11 on Forbes’ list of the world’s wealthiest individuals.
