A legendary Bitcoin whale has once again shaken the crypto world. After remaining inactive for 14 years, the OG whale has now transferred 40,191.5 BTC—worth over $4.8 billion—to Galaxy Digital, in what appears to be a strategic move for a large-scale sale.
According to on-chain analytics platform Arkham Intelligence, the wallet address “bc1qs…f4au0” initiated 15 separate transactions starting Thursday evening, consolidating its holdings before sending the full amount to Galaxy Digital’s custody.
From Dormancy to Activity
This event marks the latest phase in a remarkable reactivation of a Bitcoin address believed to belong to an early miner from 2011. On July 4, the whale first moved 80,000 BTC ($9.6 billion), originally mined when Bitcoin was valued at $0.78—now up over 15.4 million percent.
Those BTC holdings were initially distributed to eight different addresses in 10,000 BTC batches. Later, they were reassembled and partially routed to Galaxy Digital, a financial services firm known for its Over-The-Counter (OTC) crypto services. Galaxy’s wallet (bc1q0…pqesl) currently holds over 40,288 BTC and has previously transferred assets to exchanges like Bitstamp, Coinbase, and Gemini.
Who Owns the Wallet?
The whale’s identity remains unknown, but theories abound. Some speculate it could be Roger Ver, a known Bitcoin Cash advocate, while others dare to suggest a connection to Satoshi Nakamoto himself. However, Coinbase Director Conor Grogan downplayed these speculations, saying it’s likely an early miner from 2011—when Bitcoin’s block reward was 50 BTC and competition was minimal.
Why Galaxy Digital?
Galaxy Digital’s OTC desk offers deep liquidity and privacy, making it a popular route for crypto whales seeking to offload large volumes without affecting public exchange prices. Analysts believe the recent price spike in Bitcoin to over $123,000 may have motivated the timing of the sale.
The wallet has not moved funds since the transfer, but the receiving Galaxy address has interacted with major exchanges and unlabeled wallets, further indicating preparatory activity for distribution.
Will It Impact Bitcoin’s Price?
While no sharp price corrections have occurred yet, large-scale movements like this often raise concerns over potential sell pressure. The community and analysts alike will be watching Galaxy’s wallet closely for signs of liquidation.
Whale in Numbers:
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Total BTC Moved: 40,191.5 BTC
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Current Galaxy Holdings: 40,288 BTC
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Value in 2011: ~$62,400
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Value in 2025: ~$9.6 Billion
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Price Surge: 15.4 million %
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
