Bitcoin whale accumulation: Galaxy Digital facilitated the purchase of 1,506 BTC (≈ $163.5M) on behalf of a high-net-worth investor, while a Satoshi-era holder sold 2,000 BTC to acquire 49,850 ETH (≈ $219M), marking a notable BTC-to-ETH rotation on-chain.
Galaxy Digital executed multiple 500 BTC buys, creating a new BTC whale.
The Satoshi-era wallet sold 2,000 BTC and immediately purchased 49,850 ETH.
The new whale holds 1,506 BTC (~$163.5M); the ETH wallet now holds 691,358 ETH (~$3B).
Bitcoin whale: Galaxy Digital helped a buyer accumulate 1,506 BTC; a Satoshi-era holder sold 2,000 BTC to buy 49,850 ETH — on-chain breakdown and implications.
What happened in the latest Bitcoin whale accumulation?
On-chain analytics show Galaxy Digital executed several ~500 BTC purchases on behalf of an investor connected to Mike Novogratz, resulting in a new on-chain whale holding 1,506 BTC (≈ $163.5 million). The activity was reported by the on-chain analytics account Lookonchain and confirmed by transaction traces.
How did Galaxy Digital execute the buys and who is the buyer?
Multiple block-level transactions, each around 500 BTC, were routed through a broker associated with Galaxy Digital. Public on-chain data indicates the aggregated wallet now holds 1,506 BTC. The buyer is identified in market reporting as an investor with ties to Mike Novogratz; this characterization comes from Lookonchain on-chain analysis and public transaction records.
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A Satoshi-era wallet sold 2,000 BTC (~$221M) and used proceeds to buy 49,850 ETH (~$219M). Transaction history shows the BTC outflows matched timely ETH purchases, leaving the wallet with roughly 691,358 ETH (≈ $3 billion). This represents a significant BTC-to-ETH rotation by an early-stage holder.
Key figures are verifiable on-chain: the BTC sale was 2,000 BTC; subsequent ETH buy totaled 49,850 ETH. Market-value approximations in USD are based on transaction timestamps and prevailing spot prices at the moment of execution. These wallet-level aggregates signal large reallocation rather than short-term trading.
Large OTC-style buys and BTC-to-ETH rotations by legacy wallets can signal strategic portfolio rebalancing. Institutional facilitation (Galaxy Digital) indicates demand from sizable investors. Market participants should treat these events as data points within broader liquidity and sentiment analysis.
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Source: https://en.coinotag.com/galaxy-digital-may-have-helped-new-bitcoin-whale-accumulate-1506-btc-as-satoshi-era-holder-moves-into-ethereum/