Whale Alert tweeted:
— Whale Alert (@whale_alert) January 15, 2020
Wright has allegedly received the keys to encrypted databases which detail how much Bitcoin he holds, and is allegedly waiting for the private keys to unlock his wallets any day now.
However, it has since emerged that the massive Bitcoin whale transaction belonged to trading platform Bitfinex.
Paolo Ardoino, CTO at Bitfinex, replied to Whale Alert directly, claiming that just 1,500 Bitcoins were officially moved to a new wallet, with the remainder of the funds being sent to a new cold storage address.
— Paolo Ardoino (@paoloardoino) January 15, 2020
However, what really grabbed the attention of the crypto community was the incredibly low fee associated with the transaction.
The entire $1.1 billion worth of BTC was sent for just $0.49, or 5,578 satoshis.
Naturally, transaction fees are usually higher than this for even relatively small transactions.
Some cross-border payment providers take days to clear funds and may charge disproportionately high fees depending on the country the funds are being sent to.
Leading money remittance service MoneyGram has recently been working closely with Ripple to explore and implement cross-border payments powered by blockchain.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.