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Cryptocurrency user moves $ 1.15 billion worth of Bitcoin (BTC)

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bitcoin

One person moved $ 1.15 billion worth of Bitcoin for $ 3.54 in transaction fees.

This transfer corresponds to the largest transaction in the history of Bitcoin.

Record for largest Bitcoin transaction

One user moved over 88,857 BTC in two transactions within minutes of each other for a value of $ 1.15 billion. The total transaction fee is roughly the price of a coffee, or $ 3.58 (0.000 278 47 BTC).

According to the data, the two transactions of 45,671 BTC ($ 602 million) and 43,185 BTC ($ 570 million) appear to have been issued from an address owned by the Xapo company. This Hong Kong-based company provides storage solutions for cryptocurrencies.

What could these two transactions correspond to? Such an operation could be explained simply by moving funds to a new storage vault. Another hypothesis, the cryptocurrency platform Coinbase acquired the institutional activity of Xapo in 2019, it is possible that the 1.15 billion dollars in Bitcoin come from the American exchange.

Previous records

This transaction is the largest value transaction in Bitcoin history. The Bitfinex exchange had set the previous record in April 2020. The exchange transferred 161,500 BTC worth $ 1.1 billion at the time. He had spent $ 0.68 to send this record transaction.

However, none of these transactions are the biggest when it comes to the number of Bitcoins transferred. This record belongs to a transaction of 550,000 BTC carried out on November 16, 2011, by the famous exchange Mt. Gox of Mark Kerpèles.

At the time, this transaction was only worth $ 1.32 million, but it could be estimated at $ 7 billion today.

Source: Decrypt

Shivam Singh
Founder of the TechGrits, has always looked at technology as a piece of knots. From an early age connected to the technological world, this is literally your dream job.

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