On July 25, 2025, Galaxy Digital announced the sale of over 80,000 bitcoins worth about $9 billion on behalf of an anonymous investor who held the cryptocurrency for over a decade. This transaction has sparked significant interest and speculation among analysts.
Sale of Bitcoins and Galaxy Digital's Statements
According to Galaxy Digital, the transaction was part of the client's 'broader estate planning strategy.' The bitcoins were traced by analysts to addresses active in 2011. Galaxy confirmed that it 'facilitated the movement' of the coins but did not provide detailed information about their origin.
Connection to MyBitcoin Theft
CryptoQuant CEO Ki Young Ju linked the sale to the 2011 MyBitcoin theft, speculating that the coins belong to the hacker or the anonymous founder of the service. Ju noted that the addresses from which the 80,000 BTC originated had been dormant since April 2011, coinciding with the MyBitcoin hack.
Regulatory Attention and Implications
The sale of bitcoins had minimal impact on the market: BTC's price dropped by only 1% on the day of the announcement. Analysts highlighted that the sale raises questions about potential regulation as the MyBitcoin theft occurred before major crypto regulations were introduced. So far, no regulators have publicly commented on the transaction.
Galaxy Digital's bitcoin sale raises important questions about the origins of the cryptocurrency and its connection to historical incidents in the crypto investment world. An analysis of the situation indicates that, despite the substantial transaction volumes, regulatory scrutiny of such deals remains limited.
