Bitfinex Transfers 161,500 BTC For Only $0.68, Refills Hot Wallet
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Bitfinex Transfers 161,500 BTC For Only $0.68, Refills Hot Wallet

April 13, 2020      Jyoti Singh

The crypto world gets shocked on April 10, 2020, as an unknown trader transferred 161,500 Bitcoin (BTC) for only $0.68 fee.

A detailed report of the blockchain transaction mentioned that the user made the transaction of around $1.1 billion dollars in that cryptocurrency. Later out of total Bitcoins, 15,000 BTC were sent to a wallet and remaining 146,500 BTC were returned to its original address.

Bitfinex Takes Credit Of Transaction

As soon as the Bitcoins were transferred a twitter user KRMA_0 noticed it and updated on social media site. Later, while taking the credit, the Chief Technology Officer of Bitfinex, Paolo Ardoino, stated that the 161,500 Bitcoins were transacted by the exchange itself, as it was refilling its hot wallet.

According to a report, the BTC transaction made by Bitfinex would be considered as the largest transaction in terms of the dollar, in history.

Largest Transaction Made In 2011 

The report further suggests that on September 06, 2019, a transaction of 94,504 BTC was made by an unknown user. At that time the Bitcoin cost $1.018 billion and the transaction fee of it was $700.

A Twitter-based crypto monitoring resource, Whale Alert, mentioned that the transaction that took place on the day did not include any known wallet. A report stated that at that time, the crypto-traders assumed that funds that had been transferred might belong to Bakkt.

Regarding the transaction, Max Keiser stated, “This = effective ‘put’ on the BTC price at $9,000 (as I’ve been reporting for several yrs now). Ie, institutions are net-buyers of any BTC that shows up at $9k. Risk/reward now for buyers is excellent”.

However, in history, none of the transaction is the largest amount because it actually happened on November 16, 2011, when 500,000 Bitcoins were transacted, which at that time cost $1.32 million. In the present time, the price of those Bitcoin would be around $3.5 billion.

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#Bakkt #Bitcoin (BTC) #Bitfinex #Chief Technology Officer of Bitfinex #KRMA_0 #Max Keiser #Paolo Ardoino #Whale alert
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.