Long-dormant Bitcoin wallet from the early days of cryptocurrency moves a staggering $4.68 billion after 14 years of inactivity.
In a significant move, a mysterious Bitcoin whale from the early days of cryptocurrency, known as the Bitcoin OG, has transferred a substantial amount of Bitcoin to Galaxy Digital. The first transaction, worth $1.06 billion, was followed by another transfer of $927 million, totalling approximately $4.68 billion at current prices.
The Bitcoin OG, who is believed to be an investor from the Satoshi era, initially held around 80,009 BTC, valued at approximately $9.46 billion. On July 15, 2025, the Bitcoin OG transferred 40,009 BTC to Galaxy Digital, with a secondary transfer of 40,192 BTC following in the subsequent days.
The intentions behind these transfers remain unclear. Some speculate that the whale might be consolidating holdings or preparing for a strategic repositioning, while others believe it could be securing profits by selling the cryptocurrency. However, the exact motivations remain speculative.
Galaxy Digital, a digital asset management company, has deposited the received Bitcoin directly to exchanges, with 6,000 BTC moved to major platforms Binance and Bybit. This move is often seen as a bearish signal, suggesting potential selling activity.
The Bitcoin OG's actions could introduce selling pressure into the market, but the impact on the overall Bitcoin market is not clear. The current market situation is one of heightened volatility, following a record-breaking rally in Bitcoin prices. Bitcoin briefly surpassed Amazon in market cap, reaching over $2.4 trillion, and became the fifth-largest asset globally.
In the past 24 hours, Bitcoin has decreased by 2.64%, with the price currently standing at $116,679.10. It's worth noting that such sizable transactions can cause short-term ripples in liquidity and trading dynamics, especially during periods of heightened volatility.
Despite the transfer, the identity of the Bitcoin OG remains unknown. The article does not provide information on the potential impact of these transfers on the overall Bitcoin market.
[Image: A screenshot of a Bitcoin logo via Shutterstock]
[1] Blockchain.com [2] CoinDesk [3] Cointelegraph [4] Decrypt
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The Bitcoin OG, a cryptocurrency investor from the Satoshi era, has transferred a significant portion of their Bitcoin holdings, worth approximately $4.68 billion, to Galaxy Digital. This transfer could potentially introduce selling pressure into the Bitcoin market, which is currently experiencing heightened volatility. The intentions behind this transfer are speculative, with some suggesting that the Bitcoin OG might be consolidating holdings or preparing for a strategic repositioning. Others believe it could be a move to secure profits through selling of the cryptocurrency.
