633 million USD of Bitcoin has been transferred for just $ 0.26

A massive sum of more than 100,000 bitcoins were transferred from one unknown wallet to another yesterday.The popular observation source, Whale Alert, recently captured an enormous transaction. It was 101,857 BTC, which was equivalent to $ 633,535,550 at the time of the transaction.

The fee paid was equally impressive about this particular transaction. According to Blockchain.com, the total amount was 3,935 Satoshi. To put things into perspective in USD, that’s $ 0.26 as Bitcoin is now trading around $ 6,650.Some community members feared that the massive amount could end up on a crypto exchange, where if sold, could trigger a serious drop in Bitcoin prices. However, Whale Alert quickly calmed the situation down by clarifying the true nature of the transaction.


Internal Transfer

The large Hong Kong-based cryptocurrency custodian Xapo used this money to complete an internal transfer. The company started in 2014 after announcing $ 20 million in Series A funding, involving some well-known names. These included Pantera Capital, Rabbit Capital, Fortress Investment Group and Benchmark – the VC that managed the financing.It is worth noting that Xapo is one of the founding members of the Libra Association. The latter has set itself the goal of introducing its own cryptocurrency, which is to serve as the “single global digital currency” called Libra.