4 years ago

Someone Just Transferred $1.15 Billion (0.4% Of Total Bitcoins) for $3.6 Fees

George Georgiev Oct 26, 2020 20:03

An anonymous user has transferred the whopping sum of $1.15 billion in BTC for the staggeringly low fees of just $3.6.

An anonymous user just made what seems to be the largest fiat value transaction using Bitcoin.
In a single transaction, the user sent a total of 88,857.2449 BTC, which, at the current rates, is worth around $1.15 billion.
Being well-known for its low fees, the entire thing cost the user less than $4.
Large Bitcoin transactions have happened in the past, and most of them are characterized by their staggeringly low fees.
It’s also interesting to note that this wasn’t the largest transaction in terms of BTC.
As CryptoPotato reported earlier this year, a user sent a total of 124,946.622 BTC, representing a total of 0.07% of Bitcoin’s total supply. However, at the time, the amount was worth around $1 billion, and the user paid $80 in fees.
Back in 2011, Mt. Gox transferred 550,000 BTC, which today would be worth over $7.1 billion.
Meanwhile, Bitcoin’s price continues to trade around the $13,000 mark. It appears that the bullish momentum prompted by the PayPal news is somewhat fading. If bulls are to pick it up again, the next area of major resistance should lie somewhere around the important psychological resistance at $14,000.

Share This Article

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: BitcoinBitcoin (BTC) Price

Someone Just Transferred $1.15 Billion (0.4% Of Total Bitcoins) for $3.6 Fees

You Might Also Like

April Records Lowest Crypto Losses in Years: CertiK

a16z Partner Questions Favoritism Towards Meme Coins Over Blockchain Innovation

9 Celebrity Endorsements That Are Pushing Crypto Mainstream

These Divisions Contributed Significantly to Tether’s Q1 2024 Profit of $4.52B

Ex-FTX Europe Exec Purchases Titanic Gold Watch for $1.5M: Report

US Authorities Are Going After These Crypto Entities

Bitcoin Maintains $63K, Dogecoin’s Rise Continues With Another 6% Surge (Weekend Watch)

The Top Layer 2 Networks by Development Activity in April

New York Resident Charged in $43 Million Crypto-Related Ponzi Scheme

Coinbase Q1 Revenue Hit $1.6 Billion Amid ETF Approvals, Surging 72%