A $1 billion Bitcoin transaction has become conspicuous not because of its size but because its sender spent far too much on fees. From a report: Someone could have sent 94K BTC for $35. Social media users were guessing at the origin and destination of the funds on Sept. 6, which involved 94,504 BTC ($1.018 billion). According to Twitter-based monitoring resource Whale Alert, the transaction did not involve known wallets or those belonging to a specific cryptocurrency-related organization, such as an exchange.
One theory suggested the funds may be tied to institutional trading platform Bakkt, which begins accepting client deposits today. “Institutions building inventory for their market-making needs going forward,” commented Max Keiser on the giant transaction. He added: “This = effective ‘put’ on the BTC price at $9,000. Ie, institutions are net-buyers of any BTC that shows up at $9k. Risk/reward now for buyers is excellent.”
of this story at Slashdot.
Source:: Slashdot