🔍 Massive Sale of 80,000 BTC by a Satoshi Era Whale: Details and Controversies

1. The Historic Transaction

- Amount sold: 80,000 BTC (equivalent to ~$9 billion) .

- Intermediary: Galaxy Digital executed the sale on behalf of an anonymous client, described as an "early investor" in Bitcoin .

- Source of funds: The BTC came from inactive wallets since April-May 2011, linked to the defunct exchange MyBitcoin, hacked in July 2011 .

2. Theories about the Owner

- Possible hacker or founder of MyBitcoin: Analysts like Ki Young Ju (CryptoQuant) suggest that the coins could belong to the attacker of the exchange or to its anonymous founder, "Tom Williams" .

- Estate planning strategy: Galaxy Digital stated that the sale was in response to a financial strategy of the client, without revealing further details .

3. Impact on the Market

- Price stability: Despite the magnitude of the sale, Bitcoin only briefly fell 1-4%, quickly recovering to ~$117,000 .

- Market absorption: Analysts highlighted that the current liquidity of BTC allowed for the sale to be absorbed without collapses .

4. Controversies and Mysteries

- Hacked funds? The coincidence with the MyBitcoin hack fueled speculation about the illicit origin of the BTC, although Galaxy did not confirm this theory .

- No regulatory intervention: No agency (SEC, FinCEN) has publicly investigated the transaction .

5. Extreme Profitability

- Initial investment: If the BTC were acquired in 2011 at ~$0.78-$3.37, the profit exceeded 55,000x .

- Comparison: This sale is one of the most profitable in the history of cryptocurrencies .

The sale of 80,000 $BTC reveals the market's ability to handle massive movements, but it also holds mysteries about the legacy of the early days of #Bitcoin . The possible connection with MyBitcoin adds a dark twist to the story .