Lucía Peña
An early bitcoin whale — believed to be one of the original holders from the early mining days — has once again moved 40,192 BTC valued at approximately $4.75 billion to a fresh wallet, according to blockchain data tracked early Thursday.
This marks the second major transfer from the entity this month. On July 4, the whale reactivated for the first time in 14 years, initiating massive movements totaling 80,000 BTC (worth $9.5 billion), divided into 10,000 BTC chunks sent across eight different addresses.
Galaxy Digital Identified as a Key Destination
On Tuesday, 40,010 BTC from the original batch was routed to two addresses flagged by onchain analytics firm Arkham as belonging to Galaxy Digital. Some of that Bitcoin has since flowed toward OKX and several unidentified addresses, but a significant portion remains held in Galaxy-linked wallets.
According to analysts, these transfers suggest the whale could be using Galaxy Digital’s over-the-counter (OTC) services to offload portions of the holdings discreetly, avoiding market disruption. Bitcoin is currently priced at $118,472, per PRIME’s BTC tracker.
Fresh Transfers Point to Further Liquidation Plans
The remaining 40,192 BTC, untouched until now, was originally distributed across four new wallets on Independence Day — addresses beginning with “bc1qn”, “bc1qy”, “bc1qm”, and “1GcCK”.
In the early hours of Thursday (1:33 a.m. UTC), these holdings were merged into a single address beginning with “bc1qs”, following a few 1 BTC test transactions earlier in the week. This consolidation pattern may indicate preparation for another large-scale transfer, possibly signaling more selling ahead.
Blockchain research account Lookonchain noted on X that if this new wallet interacts with Galaxy Digital, it could confirm that the whale “may continue to liquidate holdings.“
The Mystery Behind the OG Whale’s Identity
Speculation around the owner’s identity has run wild. Theories range from Bitcoin Cash promoter Roger Ver, to intelligence agencies like the CIA, and even Satoshi Nakamoto themselves. However, most experts believe the whale is likely a solo miner from bitcoin’s early days, back when block rewards were 50 BTC and mining competition was minimal.
A Hoard Bigger Than Governments’
For context, the 80,000 BTC this whale controls surpasses the 50,000 BTC confiscated by the German government, which was sold off last year — a decision that likely cost billions in unrealized profits due to the recent bitcoin price surge.
