An anonymous user just made what seems to be the largest fiat value transaction using Bitcoin.
In a single transaction, the user sent a total of 88,857.2449 BTC, which, at the current rates, is worth around $1.15 billion.
Being well-known for its low fees, the entire thing cost the user less than $4.
Large Bitcoin transactions have happened in the past, and most of them are characterized by their staggeringly low fees.
It’s also interesting to note that this wasn’t the largest transaction in terms of BTC.
As CryptoPotato reported earlier this year, a user sent a total of 124,946.622 BTC, representing a total of 0.07% of Bitcoin’s total supply. However, at the time, the amount was worth around $1 billion, and the user paid $80 in fees.
Back in 2011, Mt. Gox transferred 550,000 BTC, which today would be worth over $7.1 billion.
Meanwhile, Bitcoin’s price continues to trade around the $13,000 mark. It appears that the bullish momentum prompted by the PayPal news is somewhat fading. If bulls are to pick it up again, the next area of major resistance should lie somewhere around the important psychological resistance at $14,000.
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