Anonymous wallet sells $486M in bitcoin over three weeks

An unidentified bitcoin wallet moved and sold 7,513 BTC, roughly $486.9 million at current prices, between mid-July and early August. The latest tranche was a 1,019 BTC transfer, about $66.4 million, executed hours before on-chain analytics flagged the transaction.

Bitcoin traded in a relatively narrow range while the transfers occurred and did not experience a sharp immediate price drop during the three-week period.

Separately, Strategy, the bitcoin treasury company led by Michael Saylor, began a sanctioned monetization program in June that permits sales to fund preferred-stock dividends and other obligations. The program is capped at up to $5 billion. Strategy disclosed selling 1,638 BTC between July 27 and Aug. 2, raising about $104.7 million at an average price near $63,957 per coin.

Strategy’s average acquisition cost is about $75,419 per bitcoin, meaning disposals below that level would record realized losses on paper. The company’s disclosed cap allows for further disposals through the remainder of 2026.

On-chain data show large wallets have accumulated this year while mid-tier holders have reduced exposure. The share of coins held by long-term holders — addresses that have not moved coins in years — recently reached a fresh high.

So far, neither the unidentified wallet’s three-week distribution nor Strategy’s disclosed sales have produced cascading liquidations. Market participants continue to monitor large active wallets for their potential impact on bitcoin supply and price stability through the rest of the year.