Technology

Satoshi-era Bitcoin whale shifts second 40K BTC pile to Galaxy Digital

Posted on by Minakshi

Satoshi-Era Bitcoin Whale Moves Massive ₹39,760 Crore Worth Bitcoin to Galaxy Digital

A Bitcoin whale, believed to have been holding the cryptocurrency since its earliest days (the Satoshi era), has transferred a staggering 40,192 Bitcoin, valued at approximately ₹39,760 Crore (USD 4.77 billion), to Galaxy Digital. This follows a similar transfer of 40,009 BTC to the same asset manager earlier in the week.

The Whale’s Total Holdings Transferred Reach ₹79,520 Crore

According to data from Onchain Lens, these two transactions mean that the whale has now moved a total of 80,201 Bitcoin to Galaxy Digital within the last four days. At current market prices, this equates to a colossal sum of around ₹79,520 Crore (USD 9.6 billion).

What’s Next for the Bitcoin?

Interestingly, blockchain intelligence indicates that at least 6,000 Bitcoin from these holdings have been subsequently transferred to major cryptocurrency exchanges like Binance and Bybit. This has triggered speculation within the crypto community.

Speculation Surrounds the Whale’s Motives

The reasons behind these significant movements remain a subject of intense speculation. Some analysts believe the whale might be looking to secure profits after holding the Bitcoin for over a decade. Others suggest it could be related to institutional investment strategies or even regulatory compliance.

Summary:

  • A Bitcoin whale from the Satoshi era transferred 40,192 BTC to Galaxy Digital.
  • Total BTC transferred to Galaxy Digital by the whale in the past four days equals 80,201 BTC.
  • Some of the transferred Bitcoin has been moved to exchanges like Binance and Bybit, sparking speculation.
Key Takeaways:

  • The movement of such a large amount of Bitcoin highlights the influence of early adopters on the market.
  • The transfer to Galaxy Digital could indicate a shift towards institutional custody or investment strategies.
  • The subsequent movement of some Bitcoin to exchanges suggests potential trading activity.
  • The significant amount of value involved underscores the growing importance of Bitcoin as a digital asset in the Indian market.