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Galaxy Digital Unleashes Billion-Dollar Bitcoin Barrage From 2011 Whale

Posted by Bill Rippel on July 27, 2025 - 1:53am


Galaxy Digital Unleashes Billion-Dollar Bitcoin Barrage From 2011 Whale

Over the past 24 hours, Galaxy Digital has stirred up a frenzy online as its flagged wallet sets began unloading thousands of bitcoin ( BTC) onto exchanges. A hefty chunk of these transfers ties back to the massive 80,000 BTC Galaxy scooped up from a mysterious 2011 whale.

Binance, Bybit, and Ghost Wallets Scoop Up Galaxy’s Bitcoin Flood

Earlier this month, Bitcoin.com News covered a 2011 bitcoin whale that moved over 80,000 BTC into two addresses before transferring the stash to wallets linked to Galaxy Digital. In the past day, onchain analysts have spotted thousands of BTC—some peg it near 30,000—flowing out to several of Galaxy’s counterparties.

Galaxy Digital’s current holdings at 2 p.m. Eastern time on July 25, 2025. Source: Arkham Intelligence.

Over a 14-hour window of BTC outflows, we parsed 26,971.916 BTC from the estimated 30,000+ moved. From that total, Bitcoin.com News found that 12,355.315 BTC—valued at $1.43 billion—landed in unflagged wallets with no listed attribution. These unknown destinations could represent cold storage moves, OTC deals, collateral arrangements, or institutional transfers. Among identifiable destinations, Binance received the lion’s share, pulling in 5,500 BTC.

Bybit followed with 3,754 BTC, OKX took in 2,880 BTC, Bitstamp grabbed 2,469.001 BTC, and Coinbase Prime saw smaller deposits as well. The largest single transfer among the batch was 515 BTC, drawn from more than 40 separate transactions over the 14-hour span. Around the same time, bitcoin (BTC) dipped roughly 3% in price—prompting speculation that these transfers may have played a role, though nothing is confirmed.

As of 2 p.m. Eastern on Friday, Arkham Intelligence data shows Galaxy’s flagged wallets still hold 12,952 BTC valued at $1.5 billion. Alongside its BTC holdings, Galaxy also controls $381 million in ETH, SOL, USDT, USDC, and S—of which $42.59 million is tied to Coinbase’s wrapped bitcoin token. The scale and timing of these movements suggest strategic intent, hinting at deeper positioning behind the scenes.

Whether this marks the start of a broader play or a one-off reshuffle, market watchers will be dissecting these flows for weeks.

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