Saylor’s firm and Trump-linked company help absorb 80K BTC whale sell-off

In its Q2 earnings update, Galaxy Digital CEO Mike Novogratz expressed relief that a massive 80,000 BTC ($9B) sell-off, executed on behalf of a single client, was absorbed almost instantly by major Bitcoin reserve institutions.

While Novogratz didn’t disclose specific details, he mentioned Michael Saylor’s Strategy and Trump Media as two of the biggest buyers. Thanks to their demand, one of the largest BTC sales in history was executed smoothly without triggering major market volatility.

According to BitcoinTreasuries, Strategy’s latest accumulation totaled 21,021 $BTC (~$2.3B), while Trump’s firm added 18,400 $BTC (~$2B).

Despite Galaxy posting just $30.7M in Q2 earnings, below the $85M estimate, Novogratz remained upbeat.

He noted that this high-profile liquidation, involving coins from a 14-year dormant whale wallet, helped Galaxy’s OTC platform expand partnerships with over 20 crypto asset managers, enabling smoother execution and improved deal flow.