Data from Blockchain.com shows that the whale moved the sum across two transactions of 43,185 BTC and 45,671 BTC respectively. At press time, 1 BTC changed hands around $13,451, which makes the total fiat value of the transaction approximately $1,192,194,369.
Particulars of the Bitcoin Transaction
The transaction originates from an address associated with a Xapo bitcoin wallet, which could go some way to unraveling the mystery of who is behind it. In 2019, Xapo was taken over by Coinbase Custody.
This might indicate that an institutional investor is behind the move, though this cannot be independently verified. The transaction, which took place on Oct 26 had a fee of 0.00027847, or roughly $3.74. The transaction was confirmed in block 654,364.
The transaction eclipses the previous fiat value record set in Apr 2019 by a 161,500 BTC transfer from an address linked to crypto exchange Bitfinex. With a bitcoin price of $6,800 at the time, that transaction was worth $1.1bn.
Mt. Gox Maintains Crypto Record
While this transaction is now the biggest bitcoin transfer ever in fiat terms, it falls significantly short of the all-time BTC transaction record set on Nov 16, 2011, by the now-defunct Japanese crypto exchange Mt. Gox.
The transaction, which transferred 550,000 BTC worth just $1.32 million at the time, would be worth $7.39bn at current prices.