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Bitcoin [BTC] Whale-Sized Transactions worth $4 Billion Confirmed in a Single Block

Bitcoin whale transactions are a common occurrence in the space, mostly with Exchanges managing their wallets. Nevertheless, when a single block on the ledger conducts a $4 billion transaction, it will inevitably pop some eyes.

Also Read: Whales Holding Large Amounts of Bitcoin are Responsible for Bull Market

On 11th June, Bitcoin Black Bot reported about eight transactions through Bitcoin each greater than 57000 BTC the value of each transaction was around $450 million. In total about 465k BTC was moved, apparently from a single source looking at the time interval between the transactions.

Bitcoin bot whale
Bitcoin Whale Sized Transactions (Source)

While the source hasn’t been identified as of yet, another exciting feature of the transactions was that the total fee of mining that block was about 1 BTC. This accounts for less than 0.0002% of the total amount of $4 billion. Moreover, the value was moved conveniently without any delay.

Dovey Wan, analyst, and Bitcoin investor, also tweeted about the surprisingly low fees charges. She tweeted,

“A single transaction of 500K* $BTC (an estimated value of $4B) only cost ~$8000 transaction fee. Banks will be freaked out in this case”

Also Read: Not Ethereum Whales But Bitcoin Price Movements Affect Ether [ETH] Prices: Report

Since the transaction hasn’t caused any upheaval in the price of Bitcoin [BTC], it can only be presumed that the Bitcoin [BTC] is being moved between custody wallets or for internal management most probably by an Exchange.

Do you hold the private keys to your Bitcoins, or is it held in custody at an Exchange? Please share your efficient holding methods with us. 

Summary

Bitcoin [BTC] Whale-Sized Transactions worth $4 Billion Confirmed in a Single Block

Article Name

Bitcoin [BTC] Whale-Sized Transactions worth $4 Billion Confirmed in a Single Block

Description

Bitcoin whale transactions are a common occurrence in the space, mostly with Exchanges managing their wallets. Nevertheless, when a single block on the ledger conducts a $4 billion transaction, it will inevitably pop some eyes.

Author

Nivesh Rustgi

Publisher Name

CoinGape

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.




Source: coingape.com
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