From $0.78 to Billions: Ancient Bitcoin Whale Transfers Fortune to Galaxy Digital After 14 Years
A Bitcoin whale that has been inactive since 2011, has recently reemerged and made a transfer of 40,009 BTC—valued at approximately $4.7 billion—to Galaxy Digital on July 15, 2025.
The transaction is part of a complete reshuffle of 80,009 BTC that began on July 4, 2025, marking the whale’s first activity in 14 years.
The Bitcoin bought when the prices were as low as $0.78 in 2011, was transferred in multiple transactions: the wallet “bc1qq8q” sent 20,000 BTC across seven transactions, including a 4,500 BTC batch worth $536 million, while “bc1qmux” sent 20,009 BTC in 17 transactions, leaving behind only 0.348 BTC.
Blockchain data from Lookonchain confirms these transfers.
The whale still holds 40,000 BTC, estimated at approximately $4.7 billion, across four wallets, maintaining its market dominance.
The transfers to Galaxy Digital, a crypto platform that deals in trading, custody, and OTC services, may be for the purpose of a possible portfolio rebalancing or OTC block deals, though the whale’s intentions remain unclear at the moment.
Bitcoin Dips 4.4% as Whale’s Move Triggers $150M Liquidations
The whale’s transfer is said to have triggered market volatility. On July 14, 2025, Bitcoin reached a high of $123,091. Following the July 15 transfer, the price fell 4.4% to $115,967, driving liquidations valued at $150 to $160 million, primarily affecting long positions.
Galaxy Digital subsequently deposited 6,000 BTC, worth approximately $236 million, on exchange platforms, including Bybit and Binance, according to Nansen, raising speculation of further market activity.
As of July 17, 2025, Bitcoin’s price has rebounded to $118,581 according to CoinMarketCap, proof of partial recovery but remaining below its recent peak.
Bitcoin price chart (Source: CoinMarketCap)
The market has also seen high ETF inflows, with $297 million in one day adding to reducing Bitcoin supply, which can further add to the whale’s impact.
This transfer is among other large transfers, such as a 6-year-old wallet transferring $122 million, showing active repositioning by large holders.
Will the Whale Strike Again?
The whale remains a key market player and power to be reckoned with, with 40,000 BTC remaining in his control.
Analysts, including Shawn Young, suggest the transfers to Galaxy Digital may be concerted OTC deals to address market disruption or a switch to institutional custody.
Bitcoin’s current price of $118,581 on July 17, 2025, is a testament to the token’s market resilience, but further whale activity could trigger additional volatility, consistent with historical trends. The market remains sensitive to whale transactions, which, combined with strong ETF demand and limited supply, shows Bitcoin’s dynamics.
