Cryptocurrency company Galaxy, led by Michael Novogratz, has pulled out a large amount of Bitcoin from circulation.
In a significant move for the Bitcoin market, Galaxy Digital, a leading institutional and wealth management service, completed the sale of over 80,000 BTC on behalf of an early Bitcoin investor as part of their estate planning strategy. The sale, worth more than $9 billion, is one of the largest notional Bitcoin exits ever recorded and took place in July 2025 [1][2][4].
The transaction coincided with a period of heightened Bitcoin price volatility. Immediately after news of the sale broke, Bitcoin’s price dipped below $115,000, reflecting the market’s reaction to the large selling pressure. Data showed that more than 30,000 BTC were moved by Galaxy Digital to exchanges within a short timeframe, contributing to this sharp price drop [1][2]. However, Bitcoin stabilized soon after and recovered, trading around $117,000 by Friday afternoon [2].
This sale underscores the increasing involvement of institutional players like Galaxy Digital in handling large Bitcoin holdings and estate planning for early investors [4]. It also highlights the ongoing liquidity events among early Bitcoin holders who are realizing substantial value after years of holding dormant coins [1][4].
The massive sale by one of the oldest Bitcoin holders has sparked speculation about the conviction of OG (original) holders. Some argue that Wall Street’s involvement in Bitcoin does not violate the cryptocurrency's ideology of censorship resistance, as these transactions are still being executed privately via OTC (over-the-counter) channels, preventing a significant correction in the market [3].
At the time of writing, the current price of Bitcoin is $117,513 according to CoinGecko data [5]. Despite the short-term bearishness caused by this sale, the resilience of Bitcoin’s market in 2025 is evident, as the price recovered quickly from the dip [1][2][4].
[1] U.Today. (2025). Galaxy Digital Withdraws 80,000 BTC from Ancient Wallets. [online] Available at: https://u.today/galaxy-digital-withdraws-80-000-btc-from-ancient-wallets
[2] CoinDesk. (2025). Galaxy Digital Sells Over 80,000 BTC for $9 Billion. [online] Available at: https://www.coindesk.com/business/2025/07/25/galaxy-digital-sells-over-80000-btc-for-9-billion/
[3] The Block. (2025). Wall Street's Involvement in Bitcoin Does Not Violate Censorship Resistance. [online] Available at: https://www.theblockcrypto.com/post/85384/wall-street-s-involvement-in-bitcoin-does-not-violate-censorship-resistance
[4] Bloomberg. (2025). Galaxy Digital Facilitates Largest Bitcoin Sale Ever. [online] Available at: https://www.bloomberg.com/news/articles/2025-07-25/galaxy-digital-facilitates-largest-bitcoin-sale-ever
[5] CoinGecko. (2025). Bitcoin (BTC) Price Index. [online] Available at: https://www.coingecko.com/en/coins/bitcoin
- The crypto exchange witnessed a significant trading volume when Galaxy Digital, a well-known crypto finance service, completed a massive Bitcoin sale worth over $9 billion in July 2025.
- Whales in the crypto market, such as early Bitcoin investors, are increasingly relying on institutions like Galaxy Digital to manage their crypto holdings and execute estate planning strategies.
- The Bitcoin price dipped following the massive sale by Galaxy Digital, but its resilience was evident as it quickly recovered, trading around $117,000 by Friday afternoon.
- The sale triggering a short-term bearishness in the market has sparked debates in crypto news about the continuing role of Wall Street in Bitcoin trading, arguing it does not challenge the cryptocurrency's ideology of censorship resistance.
- Investors interested in the technology and finance aspects of cryptocurrency can stay updated with the prices of Bitcoin and Ethereum, two major players in the market, from CoinGecko's Bitcoin (BTC) and Ethereum (ETH) Price Index.
