The recent sale of 80,000 Bitcoins (BTC) conducted by Galaxy Digital has captured the attention of the crypto community. These coins, dormant for 14 years, are linked to the infamous hack of one of the first exchanges, MyBitcoin.
The Sale of 80,000 BTC and Its Significance
Galaxy Digital, a major firm in the digital assets brokerage space, has completed the sale of 80,000 BTC, worth approximately $9.4 billion. This transaction, executed via over-the-counter (OTC) deals, raised many questions about the identity of the investor behind this substantial transaction.
Connection to MyBitcoin Hack
Ki Young Ju, CEO of CryptoQuant, announced that the sold Bitcoins might be associated with the 2011 hack of MyBitcoin. These Bitcoins originated from wallets that had been inactive since April 2011. The hack, allegedly orchestrated by the Hack Canada group, resulted in losses of $72,000. The BTC could either belong to the hacker or the anonymous founder of MyBitcoin known as Tom Williams.
Market Reaction to the Deal
Despite the completion of this major deal, the Bitcoin (BTC) market remained stable. The current price of BTC stands at $117,686, which is up 1.2% in the last 24 hours. Bitcoin's market cap is approaching $2.35 trillion.
The sale of 80,000 BTC raises new questions about the connections between unique players in the crypto market and their effect on the market. While the market has shown no significant changes, the historical significance of these Bitcoins remains evident.
