With Bitcoin’s price continuing to hold close to $13,000, one anonymous trader decided now was the time to move more than $1 billion of the digital asset.
According to on-chain data, a Bitcoin (BTC) trader moved more than 88,857 BTC — worth roughly $1.14 billion — for a fee of only 0.00027847 BTC, or $3.58 at time of publication. The coins were confirmed in block 654,364 on Oct. 26.
This transaction is the largest movement of any cryptocurrency by fiat value, with the Bitfinex exchange setting the previous record in April. They transferred 161,500 BTC — $1.1 billion at the time — for a fee of only $0.68.
Neither of these transactions were actually the largest amount of Bitcoin to ever be moved. That honor goes to a 550,000 BTC transaction made on November 16, 2011 by the Mt. Gox exchange. Worth $1.32 million at that time, that amount of Bitcoin could be liquidated for more than $7 billion today.
This story is developing and will be updated.