Galaxy Digital has successfully executed a massive Bitcoin sale on behalf of a Satoshi-era investor, worth approximately 2.3 billion dollars. The sale consists of 21,000 Bitcoins and 18,400 Bitcoins, with the latter being purchased by Trump Media for 2 billion dollars.
CEO Mike Novogratz attributed the significant sell-off to the institutional demand, which absorbed the massive liquidation order. This is largely due to Galaxy Digital’s partnerships with over 20 crypto treasury firms, adding 2 billion dollars in platform assets to their portfolio.
Novogratz expects continued corporate Bitcoin buying to support crypto prices. Moreover, companies like SharpLink Gaming are investing hundreds of millions of dollars in Ethereum weekly, indicating a growing demand for cryptocurrencies.
The historic sale underscores the institutional investors’ confidence in Bitcoin and its potential for price appreciation.
Source: https://coinmarketcap.com/academy/article/bitcoin-news-strategy-and-trump-media-absorbed-galaxys-massive-dollar9b-bitcoin-sale