Ki Young Ju, CEO of cryptocurrency analysis platform CryptoQuant, has put forward a remarkable theory regarding the recent 80,000 Bitcoin transfers.
Stating that these BTCs were moved after remaining dormant for 14 years, Ju claimed that the funds first originated from the MyBitcoin wallet service, which collapsed in 2011.
Ju made the following statement on social media:
The latest transfer of 80,000 BTC, which had lain dormant for 14 years, originally came from wallets hosted by MyBitcoin. These wallets had been inactive since April 2011, before MyBitcoin was hacked and collapsed in July 2011. It is highly likely that these BTC belong to either the hacker or the anonymous founder, Tom Williams.
Ki Young Ju also noted that these BTCs appear to have been purchased by Galaxy Digital, but she is unsure whether the firm has conducted any forensic analysis.
Galaxy Digital, meanwhile, announced that it had completed one of the largest nominal Bitcoin transactions in history. The company completed the sale of over 80,000 Bitcoins on behalf of a client.
According to Galaxy, the transaction, currently valued at over $9 billion, was made as part of a legacy planning strategy for a Satoshi-era user who was one of Bitcoin’s early investors.
*This is not investment advice.