$1 Bln Worth of Bitcoin Moved to Unknown Wallet. Some Suggest It Could Be Bakkt Warehouse

Libra Coin News
Fri, 09/06/2019 - 05:57
Alex Dovbnya
Bitcoin whales are flexing their muscles while keeping the crypto community in suspense
Cover image via 123rf.com

According to data provided by Whale Alerts, a mammoth-sized transaction worth of 94,504 BTC ($1.018 bln at press time) has been recorded on the Bitcoin Blockchain. This is certainly one of the biggest transfers in the history of crypto.

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Bitcoin critics often trash the top coin because of its expensive transactions. However, the anonymous user had to fork out only $700 in fees to send his $1 bln cryptocurrency fortune.

Crypto analyst Alex Krüger points out that Bitcoin whales have woken up from hibernation, which might mean a significant move in either direction.

Some Twitter users suggested that this transfer might be linked to Bakkt. As reported by U.Today, the ICE-backed exchange is expected to roll out its custody service dubbed “Bakkt Warehouse” on Sept. 6 prior to launching physically-settled Bitcoin futures at the end of the month.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.