The recent sale of 80,000 BTC by Galaxy Digital has drawn attention due to its connection with the MyBitcoin exchange, which shut down after a hack in 2011.
80,000 BTC Transaction by Galaxy Digital
Last week, Galaxy Digital issued a press release regarding one of the largest Bitcoin transactions ever. The firm facilitated the sale of 80,000 BTC worth nearly $9 billion by an anonymous client, dubbing him a 'Satoshi-era investor.' However, CryptoQuant CEO Ki Young Ju believes this anonymous client is Tom Williams, the founder of MyBitcoin.
Background on MyBitcoin and Its Collapse
MyBitcoin was founded in 2010 and closed in August 2011 following a hack that drained user accounts. At the time of its closure, the exchange managed 154,406 BTC, of which around 78,747 BTC were reported lost. This ties into claims that MyBitcoin might have been a 'honeypot' for Bitcoins.
Details of the Transaction and Its Implications
The transaction of 80,000 BTC originated from wallets that had been dormant for 14 years. Arkham Intelligence data indicated that the anonymous holder had retained the coins for over 14 years, with the timing of the movement aligning with MyBitcoin's closure. Galaxy Digital presented the press release as an OP_RETURN attached to an unrelated blockchain transaction, but CEO Mike Novogratz did not provide further details.
The analysis of the 80,000 BTC transaction reveals complex connections between current developments in the cryptocurrency space and the history of MyBitcoin, sparking interest among experts and observers of transactions.
