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Crypto financial services giant Galaxy Digital has abruptly moved $447 million worth of Bitcoin (BTC), on-chain data shows.
According to the blockchain tracking platform Lookonchain, Galaxy Digital has just moved 3,782 BTC, only days after making another massive transaction of the flagship crypto asset.
“Is Galaxy Digital helping clients sell BTC again? [On Monday], Galaxy Digital has transferred out another 3,782 BTC ($447 million), most of which went to exchanges.”
On Friday, Galaxy Digital said that it facilitated the successful execution of “one of the largest notional Bitcoin transactions in the history of crypto” on behalf of one of the firm’s clients who has a Bitcoin wallet with a 14-year history.
“Galaxy completed the sale of more than 80,000 Bitcoin – valued at over $9 billion based on current market prices – for a Satoshi-era investor, representing one of the earliest and most significant exits from the digital asset market. The transaction was part of the investor’s broader estate planning strategy.”
Meanwhile, Mike Novogratz, chief executive of Galaxy, believes that Ethereum (ETH) is primed to outperform Bitcoin in the coming months.
In a recent interview with CNBC Television, Mike Novogratz said that if the top altcoin were to hit the $4,000 price tag again, it would trigger a “price discovery” phase for the asset, one that could see it outpace the crypto king.
Bitcoin is trading for $117,498 at time of writing, down marginally in the last 24 hours. Meanwhile, Ethereum is trading for $3,769 at time of writing, down marginally on the day.
