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

October 26, 2020 | By | Reply | 22 Readers More

  • 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…

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