On the night of Friday, September 6, an unusually large transaction was recorded on the Bitcoin network in the amount of 94,504 BTC (more than $ 1 billion at the current rate). The commission of $ 700 became even more unusual.
According to Whale Alert's Twitter account, previously unknown wallets that did not belong to any exchange were involved in the transaction. One of them transferred 56% of the amount, the remaining funds came from three other addresses.
? ? ? ? ? ? ? ? ? ? 94.504 #BTC (1,018,147,922 USD) transferred from unknown wallet to unknown wallet
Tx: https://t.co/VWb8slswa8
– Whale Alert (@whale_alert) September 6, 2019
An hour later, the same sender translated 124 178 BCH and 124 178 BSV .
One of the common theories is that the transaction is related to the upcoming start of accepting deposits on the platform for institutional investors Bakkt. Earlier, the company announced that this will happen today.
Max Kaiser, head of the Heisenberg Capital venture capital fund, agrees with the opinion that institutional investors may be involved in such a large transaction.
Institutions building inventory for their market-making needs going forward. 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. https://t.co/up7irZufX6
– Max Keiser, tweet poet. (@maxkeiser) September 6, 2019
According to Kaiser, at present large investors are laying the foundation for further actions on the market.
“Institutional market makers believe that BTC at around $ 9,000 provides the perfect balance of risk and reward,” he wrote.
Whoever was the sender of a major transaction, he chose an extremely high commission – at 480 satoshi per byte, it amounted to about $ 700. Moreover, in the current state of the network, only 21 satoshi per byte are enough to include a transaction in the next block.
An unknown sender overpayed about 20 times, although it could have cost only $ 35.
Next: 21.1 sat / byte $ 0.57
1h: 01.0 sat / byte $ 0.03
6h: 01.0 sat / byte $ 0.03
12h: 01.0 sat / byte $ 0.03
1d: 01.0 sat / byte $ 0.03
3d: 01.0 sat / byte $ 0.03
1wk: 01.0 sat / byte $ 0.03
Block height: 593,493
Mempool depth: 4– Bitcoin Core Fee (@CoreFeeHelper) September 6, 2019
TokenAnalyst tracked the addresses involved in the transaction to the Huobi exchange.
$ 1 Billion + $ BTC was transferred in one transaction yesterday. Where did that come from? ?
We took a look and saw that a large percentage of it could be traced to @HuobiGlobal addresses pic.twitter.com/4jdeYMgyNG
– TokenAnalyst (@thetokenanalyst) September 6, 2019
At the time of publication, Bitcoin is trading at around $ 10,750.
Recall that in June, the Binance exchange moved $ 1.26 billion in bitcoins . Moreover, the commission then amounted to only $ 124.6.
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