Satoshi-era Bitcoin whale moves $9.6 billion in BTC to Galaxy Digital amid market surge

A dormant Satoshi-era Bitcoin whale has transferred its entire 80,201 BTC stash—worth $9.6 billion—to Galaxy Digital in two transactions this week, blockchain data reveals.

The moves, detected by Onchain Lens and Nansen, include 40,192 BTC ($4.77 billion) transferred on July 9, following an initial 40,009 BTC shift on July 4.

At least 6,000 BTC were also sent to exchanges Binance and Bybit, fueling debate over whether the whale is cashing out or restructuring its holdings.

The Satoshi-era Bitcoin whale’s billion-dollar shuffle

The whale, inactive since 2011, amassed its Bitcoin in two batches: 20,000 BTC in April 2011 and 60,009 BTC in May 2021. Its sudden activity coincides with Bitcoin’s all-time high of $122,000 this week, which pushed the whale holdings to a peak valuation of $9.7 billion.

Kadan Stadelmann, CTO of Komodo Platform, told journalists:

“After 14 years of holding, the Satoshi-era Bitcoin whale might simply be securing jaw-dropping profits. They could be diversifying for family stability or funding projects aligned with Bitcoin’s original ethos.”

Is this a sell-off or strategic repositioning?

While the transfers to Galaxy Digital and exchanges suggest potential liquidation, experts caution against assumptions. Stadelmann noted:

“This could be housekeeping—moving to more secure wallets or leveraging Galaxy as an intermediary for future ventures.”

Pseudonymous trader Marty Party speculated on X that Galaxy Digital may have purchased the entire 80,201 BTC:
“IMO: They bought all 80k, sold some, and will hold the rest. The 80k is off the market.”

Satoshi-era Bitcoin whale joins institutional Bitcoin wave

The whale’s timing aligns with growing institutional interest. Bitcoin’s rally has elevated its creator, Satoshi Nakamoto (believed to hold 1.096 million BTC), to the 11th-richest person globally, per Forbes.

The Satoshi-era Bitcoin whale’s moves raise questions about long-term holders’ confidence as Bitcoin integrates into traditional finance.

Stadelmann added:

“The whale might have mixed feelings about Bitcoin’s institutional adoption versus its crypto-anarchist roots.”

Key points:

• A Satoshi-era Bitcoin whale moved 80,201 BTC ($9.6B) to Galaxy Digital after 14 years of inactivity.

• Partial transfers to exchanges hint at profit-taking, but experts suggest alternative strategies.

• The whale’s actions reflect broader tensions between Bitcoin’s decentralized origins and Wall Street adoption.