NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

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
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.