80,000 Bitcoin Transfers: Insights from CryptoQuant’s Ki Young Ju

Ki Young Ju, CEO of the cryptocurrency analysis platform CryptoQuant, has presented a significant theory regarding the recent transfer of 80,000 Bitcoins (BTC).

Ju stated that these BTCs were transferred after being dormant for 14 years. He asserts that the funds originated from the MyBitcoin wallet service, which collapsed in 2011.

In his statement on social media, Ju mentioned:

> “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.”

He also noted that these BTCs likely had been purchased by Galaxy Digital, although he is uncertain if the firm carried out any forensic analysis.

In a related development, Galaxy Digital announced the completion of one of the largest nominal Bitcoin transactions in history. The company facilitated the sale of over 80,000 Bitcoins on behalf of a client.

According to Galaxy, this transaction, valued at over $9 billion, was part of a legacy planning strategy for a Satoshi-era user who was one of Bitcoin’s early investors.

This is not investment advice.