Whale Moves $1.16B Bitcoin in Largest-Ever Dollar Transaction

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In Brief
  • A bitcoin whale has moved the sum of 88,857 BTC between two wallets.

  • The $1.16 billion transaction makes it the largest-ever in fiat terms.

  • The transfer is still some way off of the largest BTC transfer ever made, which took place in 2014.

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An unknown bitcoin whale has moved the largest fiat value bitcoin sum in history. The transfer moved 88,857 BTC worth $1.16 billion from a Xapo wallet to an unknown one.

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.

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David is a journalist, writer and broadcaster whose work has appeared on CNN, The Africa Report, The New Yorker Magazine and The Washington Post. His work as a satirist on 'The Other News,' Nigeria's answer to The Daily Show has featured in the New Yorker Magazine and in the Netflix documentary 'Larry Charles' Dangerous World of Comedy.' In 2018, he was nominated by the US State Department for the 2019 Edward Murrow program for journalists under the International Visitors Leadership Program (IVLP). He tweets at @DavidHundeyin

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