Galaxy Digital Sells Bitcoin Worth 1.3 Trillion

Galaxy Digital sells Bitcoin worth 1.3 trillion (Photo; Doc. Cryptoinjas)

JAKARTA - Galaxy Digital, an investment company led by Mike Novogratz, recently made sales of Bitcoin worth 89 million US Dollars (Rp1.3 trillion). This move surprised many, given that Novogratz is known as one of Bitcoin's main supporters. These major transactions involved 1,652 BTC sent to Coinbase Prime, and immediately received widespread attention from investors.

The price of Bitcoin has decreased sharply in the last 24 hours, down by 5.65%. From previously at the level of 56,590 US Dollars (Rp873 million), Bitcoin fell to 53,400 US Dollars (Rp824 million), although then it rose slightly again 1.53% and traded around 54,354 US Dollars (Rp839 million) per coin. This price drop was triggered by a large sell-off, which was not only influenced by Galaxy Digital transactions, but also by events in the stock market, especially after Nvidia shares experienced pressure due to investigations by the United States Department of Justice.

The sales made by Galaxy Digital raise concerns among market players, especially as Novogratz is often seen as an optimistic figure towards the future of Bitcoin. Many are wondering if this move reflects Novogratz's new view of the crypto short-term price trend.

Some market analysts are starting to speculate that the price of Bitcoin could fall further, even reaching 40,000 US Dollars (Rp617 million). Samson Moscow, CEO of JAN3 and one of the important figures in the Bitcoin community, responded to this speculation by sharing several strategies on Twitter for investors who believe the possible decline.

Moscow offers four options, ranging from continuing to maintain Bitcoin and increasing ownership (HODL and stacking), to extreme options such as selling all ownership and rage quit. However, Moscow insists that according to him Bitcoin will reach a price of 1 million US Dollars (Rp15 billion) in the future, with a satoshi value (the smallest unit of Bitcoin) that could match one dollar (Rp15.000). Therefore, it suggests that the best option is to keep Bitcoin and continue to add to the crypto asset.