At the dawn of Bitcoin’s history, a dormant address from 2011 has awakened, transferring 80,000 BTC, worth nearly $10 billion, to trading platforms. Leading the charge is Galaxy Digital, which has just received half of this treasure. An operation as rare as it is unsettling for the markets.
14 Years of Silence, 15 Transactions, 1 Sole Recipient
This legendary “whale,” whose address had been inactive since 2011, stirred on July 4, 2025. The goal: to transfer all of its bitcoins to addresses controlled by trading desks.
The first clues were spotted by Arkham Intelligence. Result: 15 transactions originating from four dormant wallets were gradually consolidated… until landing in a single address, tagged Galaxy Digital. The last transaction, 40,191 BTC, or $4.8 billion, was recorded this morning.
Galaxy Digital in the Heart of the Game
Galaxy’s wallet now displays an impressive balance of 40,288 BTC. While no withdrawals have been observed yet, signals suggest that movements to exchanges are already underway: Coinbase, Bitstamp, Gemini… and other anonymous addresses.
Such massive transfers, especially to an institutional player like Galaxy, are never insignificant. Historically, whales keep their funds in cold wallets. Sending them to trading desks? It often heralds a sale.
A Questioning Timing
The context makes the situation even more explosive. BTC is currently flirting with $120,000, very close to its all-time high. Is this a simple asset rebalancing or a desire to take profit after 14 years of inaction?
Impossible to say for certain. But the impact is significant: a movement of this magnitude can trigger shockwaves in the market. Especially considering that the origin of the funds dates back to the “Satoshi” era, those early days of Bitcoin when only a few insiders accumulated thousands of BTC at low prices.
What It Means for Investors
For traders, this is a clear signal: something is brewing. Whether the goal is a partial sale, an OTC deal, or a portfolio restructuring, caution is advised.
On-chain indicators are now scrutinizing every action of the Galaxy wallet. In the event of an exit to the spot markets, the impact could be severe, even for a crypto now dominated by institutions.
