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Bitcoin transactions, known to be fully transparent, but mostly anonymous, often spring up interesting blockchain transactions that comes to light into the community. There is even a Twitter account called Whale Alert, which highlights big transactions in the cryptocurrency space.
This twitter account noted a massive transaction of 94,504 BTC (worth over one billion dollars) being moved at the end of this week. The interesting thing about this transfer is that it is not a transaction initiated by an exchange, which could hold this sum of money, but rather seems to be a private individual.
More so, the person moving these funds had no need to request permission from any kind of bank, government institution, or regulator, and their funds have been moved with no oversight from a centralized force. Additionally, their fees for moving this amount of money amount to $700.
However, people are now curious what this movement of funds was about, and who could be behind it, seeing as it does appear to be an individual.
Once the transaction was signaled by Whale alert, theories started flooding in, but it was because a billion-dollar worth of bitcoins were sent from multiple addresses to a single address that people have a number of theories.
Just before the massive transfer, the same unknown account sent 0.3 BTC to the address, perhaps as a test to determine the health of the wallet and if it was ready and an operational address.
One external factor that may have a role to play in the movement of such a huge amount of money in Bitcoin could be tied to the opening of the Bakkt futures trading vault. This is a place that allows for institutional investors to deposit their Bitcoin in anticipation for the launch of the Bakkt futures trading later in September.
Bakkt have said that their deposit scheme would be open on Friday, September six, for customers to prepare their Bitcon for futures trading with the fully regulated platform. The idea that an individual has prepared $1 billion in Bitcoin to trade on a futures platform is plausible, but it seems over the top - especially for such a new platform which is yet to open fully.
Another possibility of who is behind this transaction could be self proclaimed inventor of Bitcoin, Craig Wright - aka, Satoshi Nakamoto.The Australian computer scientist has recently concluded a long standing court battle with the brother of his deceased business partner.
The outcome of this court case was that Wright would have to pay out a huge sum of money to Ira Kleinman to settle the dispute. The sum amounts to around $5 billion dollars, and Wright would have to pay that in Bitcoin. Therefore, it could well be that Wright is readying his funds in order to transfer them over to Kleinman - with this being the first bucket of $1 billion.
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Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
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Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
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