Whale’s Final 40K BTC Lands at Galaxy as Dormant Wallet Fully Empties
A long-dormant Bitcoin whale has now completed the transfer of their entire 80,000 BTC stash—worth over $9.5 billion—sending the final 40,191 BTC (valued at $4.8 billion) to Galaxy Digital on Friday. With this move, Galaxy’s wallet now holds 40,288 BTC, according to blockchain data, with no outbound activity observed since the latest transfer.
The transfers began earlier this month when the wallet, inactive since April 2011, suddenly reawakened. On July 4, the whale began moving eight separate tranches of 10,000 BTC to new addresses, marking their first on-chain activity in over 14 years.
Arkham Intelligence data shows that on Thursday evening, beginning around 5:41 p.m. ET, 15 transactions were initiated to consolidate funds from four intermediary wallets into a Galaxy-labeled address. This followed a massive 40,010 BTC transfer on Tuesday, which Galaxy has already begun routing to major exchanges including Coinbase, Gemini, and Bitstamp, as well as unidentified addresses—pointing to potential OTC offloads.
While the act of sending coins to trading desks does not confirm an immediate sale, such movements typically raise market concerns, especially given that long-term holders often store assets in cold wallets. These patterns suggest strategic liquidity preparation.
The whale’s transfer coincides with Bitcoin trading just above $118,000, hovering near its all-time high. Market participants are closely watching Galaxy’s next move, as any confirmed liquidation could ripple across trading desks and sentiment.
