Bitcoins worth $1 billion just moved to an unknown wallet

Bitcoin • September 6, 2019, 3:09AM EDT
UPDATED: September 6, 2019, 4:56AM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

Over 94,000 bitcoins, currently worth over $1 billion, have just been moved to an unknown wallet; possibly associated with Bakkt.

The transaction, which took place three hours ago, consolidated bitcoins from 92 different inputs from 15 addresses into just one address that now holds 94,505.8 BTC. More than half of the sent BTC (56%) came from just one address. The same address has also moved 124,178 of Bitcoin Cash (~$36.7 million) and 124,178 of BSV (~$16.3 million). Another 42% of BTC came from three other addresses. The transaction fee cost approximately $700, meaning just 0.00007% of the total amount. 

The receiving address is now the fifth-largest BTC wallet, and the largest wallet not associated with a cryptocurrency exchange. Considering that Bakkt begins to offer bitcoin custody starting from today, it is possible that the receiving address belongs to Bakkt. 

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

See More
Connect on

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Yogita Khatri