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.
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.