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Galaxy Digital Sells 80,000 Dormant Bitcoins in $9B OTC Deal Without Jarring Market Reaction

Investigators are examining whether the dormant coins stem from the now-defunct MyBitcoin custody breach of 2011.

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Overview

  • Galaxy Digital completed an over-the-counter sale of 80,000 BTC valued at $9 billion on behalf of a Satoshi-era investor.
  • Bitcoin’s price fell by only about 1% after the transaction, trading sideways around $117,000 to highlight strong liquidity and institutional demand.
  • Forensic analysts are probing the coins’ origin after blockchain experts suggested they may trace back to wallets compromised in the 2011 MyBitcoin custodial hack.
  • Recent data show a surge in whale activity with early investors increasingly realizing gains from decade-old holdings.
  • The UK government is preparing a structured disposal of more than 61,000 BTC seized in criminal cases, signaling further long-dormant supply entering the market.