$1 Billion USD Worth of Bitcoin Transferred, Bakkt Opens BTC Deposits

Justinas Baltrusaitis
Author: Justinas Baltrusaitis
Last Updated: February 13, 2020

In what seems to be one of the biggest transfer in the history of crypto, one billion USD worth of Bitcoin was moved to an unknown wallet on September 6, 2019.

According to information from crypto Whale Alerts, a huge-sized transaction amounting to 94,504 BTC (equivalent of $1.018 at press time) took place on the Bitcoin blockchain. The crypto community is gripped in suspense given that the amount was moved to an unknown destination.

How Much Did It Cost to Move the “Mammoth-sized” BTC Amount?

Bitcoin has always been on the receiving end by attacks from its critics, mainly based on the fees charged on transactions. The latest type of scam we are seeing in the crypto markets comes in the form of bitcoin trading robots like the bitcoin code fraud, which was connected to Elon Musk’s scam.

However, this one-billion dollar crypto fortune cost the user only $700 in fees to transfer.

According to crypto analyst Alex Kruger, this move signifies that Bitcoin whales are waking up from hibernation, which could lead to significant ramifications in either direction.

Responding to the Whale Alert tweet that revealed the unusual transaction, Kruger tweeted:

Transaction Linked to Bakkt?

According to some Twitter users, the huge BTC transaction from an unknown wallet to an unknown wallet could be linked to Bakkt—the ICE-backed exchange, which is set to launch its custody service named Bakkt Warehouse today (September 6, 2019).

Bakkt plans to roll out its physically settled Bitcoin futures towards the end of this month on September 23.

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Justinas Baltrusaitis

Justin is an editor, writer, and a downhill fan. He spent many years writing about finances, blockchain, and crypto-related news. He strives to serve the untold stories for the readers.

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