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Whale Alert alerts are constant on Bitcoin whales, however there are a few that stand out above the rest. However, a whale recently completed a $ 1.1 billion Bitcoin trade – the largest ever!
Million dollar operation of a Bitcoin whale, the largest registered so far
The creditor of the address is anonymous, but this achievement is attributed to the fact that the price of BTC is currently in a range that exceeds $ 13,000. What is momentous about the event is that this transaction is the largest movement of any cryptocurrency in terms of its fiat value.
This operation broke the record set by the Bitfinex exchange in April. Back then, 161,500 BTC was transferred, $ 1.1 billion at the time, for a fee of just $ 0.68.
According to Whale Alert, the BTC move was for more than 88,857 BTC, worth about $ 1.15 billion, for a commission of just 0.00027847 BTC. This is equivalent to $ 3.83 at press time, according to CoinDesk. These tokens were confirmed in block 654,364 on October 26.
What details do you have about this transaction?
The Bitcoin whale that performed this operation is anonymous. However, the data provided by CrystalBlockchain suggests that the user sent the BTC from an address labeled as a Bitcoin wallet on Xapo.
However, it is unlikely that he is an individual actor. One possible explanation is that Coinbase Custody acquired Xapo’s institutional business in 2019. Thus, it is possible that the USD 1.1 billion in Bitcoin originated from this US exchange.
Something that should be clear is that although it is the largest transaction in terms of its fiduciary value, it is not the largest in terms of the amount of BTC transferred.
That title is held by a 550,000 BTC transaction made on November 16, 2011 on the former Mt. Gox exchange. If that operation had been done at this time, the fiduciary value would be astronomical.
It may be that if Bitcoin continues to rise, we may see trades that with less BTC exceed this record in terms of fiat value. Anyone would be happy to have that amount of Bitcoin under their belt … wouldn’t they?
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