Best Crypto to Buy Now After Galaxy’s $9B Bitcoin Dump
The post Best Crypto to Buy Now After Galaxy’s $9B Bitcoin Dump appeared on BitcoinEthereumNews.com.
In a move that shows the institutional power driving Bitcoin’s value, Galaxy Digital Inc., a diversified financial services company focused on digital assets, blockchain finance, and growing AI infrastructure/data centers, recently conducted one of the biggest Bitcoin transactions to date. More than 80,000 BTC, cumulatively valued at upwards of $9 billion, were sold by the digital asset company. This marked one of the biggest exits of institutional players from BTC. Why was it done? According to Galaxy’s post on PR Newswire, it was part of a broader estate planning strategy. Is this an indicator of BTC losing steam among institutional players, and will the top digital asset remain the best crypto to buy now? Such questions have now grown legitimate, since one institution has done what the community hoped it wouldn’t do: sell off its BTC holdings. The Sell-off Was a Multi-Staged Effort Naturally, the entire bulk of BTC did not move in one go. Lookonchain revealed the transaction through a tweet, which showed transfers of 30,000 BTC to exchanges, followed by 2,850 BTC, then 10,000 BTC, and so on. Update:#GalaxyDigital has transferred nearly 30,000 $BTC($3.5B) out today, most of which went directly to exchanges and were sold. Then #GalaxyDigital withdrew 1.15B $USDT from exchanges.#GalaxyDigital still holds 18,504 $BTC($2.14B).https://t.co/bVtNwP2iXI pic.twitter.com/Wv1cD3aHbf — Lookonchain (@lookonchain) July 25, 2025 The crypto community naturally entered a state of panic, with one crypto enthusiast named Wolfer asking, “What are they doing?” Responses to the comments revealed that whales were unloading through Galaxy, while others stated that it was bound to happen since Galaxy acquired BTC through OTC deals. Among other investors, the panic was even more brutal, with some imploring law enforcement to “stop these criminals.” At the same time, however, Galaxy has withdrawn USDT from exchanges. Some investors also believe that since Galaxy’s CEO…
Filed under: News - @ July 26, 2025 9:29 am