Dormant Bitcoin Whale Awakens, Sends $2.3B in BTC to Galaxy Digital
A long-inactive Bitcoin whale has re-entered the scene, sending shockwaves through the crypto market by moving approximately 20,000 BTC—worth $2.34 billion—to Galaxy Digital, marking what appears to be the first sale from the wallet in 14 years.
On-chain data reveals that the transfers began late Monday evening, with seven separate transactions between 500 and 4,500 BTC each. The final transfer, which drained the wallet entirely, occurred around 1:28 AM Tuesday.
Blockchain tracking platforms, including Onchain Lens, identified the sender as the same whale who recently moved a total of 80,000 BTC after more than a decade of dormancy.
This latest batch appears to be the whale’s first instance of converting holdings into fiat or other assets—an exit strategy timed to align with Bitcoin’s all-time high of $123,000.
The move to cash out through Galaxy Digital, an institutional brokerage, suggests a calculated approach to profit-taking. Some speculate this BTC trove could be linked to a 2011-era miner, while others, including Arkham, suggest the transfers may reflect internal wallet restructuring rather than outright selling.
Regardless of motive, the timing and scale of the movement have rekindled interest in Bitcoin’s early adopters—many of whom still sit on untouched fortunes mined over a decade ago.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
