Galaxy Digital facilitated the sale of over 80,000 Bitcoin, valued at $9 billion, on behalf of a long-term holder in one of the largest single cryptocurrency transactions ever recorded. The assets originated from wallets linked to the defunct MyBitcoin service that had remained dormant since platform’s 2011 security breach.
In a novel approach, Galaxy Digital embedded the sale announcement directly onto the Bitcoin blockchain using the op_return field, creating a transparent public record of the transaction. Analysts highlighted the transaction’s unique characteristics, with multiple experts speculating about seller motivations while acknowledging Galaxy Digital’s reputational commitment to rigorous KYC and compliance protocols.
Despite the unprecedented volume of the sale, Bitcoin markets demonstrated remarkable resilience as prices rebounded swiftly post-transaction. This rapid recovery underscores deepening liquidity and structural maturity within cryptocurrency markets, even during extraordinary whale movements.
The transaction highlights critical industry requirements for sophisticated compliance frameworks and analytical capabilities when processing large-scale cryptocurrency transfers involving legacy assets.