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$83 Million Dollar Bitcoin Transaction Cost Only $1.64 to Transfer

November 6, 2019
Dominic Mann


$83 Million Dollar Bitcoin Transaction Cost Only $1.64 to Transfer

The popular Twitter account, Whale Alert, notified users a few days ago of a 9,013 bitcoin transfer that occurred, averaging $83,000,000. The transfer was from an unknown wallet to another unknown wallet, leading the public to believe it was either a whale or an exchange making this transaction.

Reading the transaction details, you can clearly see that the fee was only 0.00018036 BTC, which is about $1.64 at the time of writing. Now, if this was traditional fiat, the transaction fee would have been a lot higher, therefore proving bitcoin to be superior.

This transaction has created some controversy in the comments of Twitter with people claiming it was just an exchange transferring funds between cold wallets, however no exchange has claimed this is true. Others believe it was a whale moving the bitcoin for security reasons.

It is likely that this move won’t have a real impact on the market as it is so huge, however it does truly show the benefits of using bitcoin to transfer funds to anywhere in the world as the fee’s are just so low and don’t take any time at all, compared to international payments with traditional fiat currency.  

This type of transaction is a very positive thing for cryptocurrency and bitcoin as a whole because it shows higher and higher amounts of money are being put into the network and more people are getting involved. Having this amount transferred could open up people’s eyes to how positive crypto can be and its benefits in real world applications.