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Bitcoin Worth $1B Transferred By Just Paying $7.30 In Fees: Can Traditional Banking Carry Out Such A Feat?

Published 20/05/2024, 08:09
© Reuters.  Bitcoin Worth $1B Transferred By Just Paying $7.30 In Fees: Can Traditional Banking Carry Out Such A Feat?
BTC/USD
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Benzinga - A mammoth transfer of more than a billion worth of Bitcoin (CRYPTO: BTC), accomplished by paying a fraction in fees, grabbed the market's attention, leading to discussions around the nature of the transfer.

What Happened: In a social media post on X, well-known Bitcoin influencer Vivek highlighted a transaction showing the movement of 16,445.82 units of Bitcoin, worth $1.1 billion at current market prices.

The fascinating bit was that the transfer was performed by paying just around $7.30 as transaction fees.

The sheer size of the transfer left on-chain observers in awe, with Vivek predicting it to be a purchase by a nation-state.

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