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Another Big Bitcoin Move: Over $5 Billion Moved In Minutes

On that day, forums posts began to emerge suggesting Bitcoiners around the world ought to throw “parity parties” (meaning a party celebrating Bitcoin’s parity with the US Dollar). It really wasn’t until Laszlo Hanyecz made the first Bitcoin trade for real goods (two Papa John’s pizzas in exchange for 10,000 Bitcoins) that there was really even a price applied to Bitcoin at all. Everyone back then acquired Bitcoins by mining them on their personal computer and trading them with each other just to see if they could.

5 Billion Worth of Bitcoin Moved in Minutes

A whopping 1.3 million Bitcoins was processed on Wednesday that instead of causing a massive jolt in the market, went on to go almost unnoticed. Indeed, Whale Alert registered a series of over 10 transactions of over 50,000 BTC in the span of some twenty minutes. With large transactions, too, there’s always the chance that there’s a security vulnerability being exploited. That’s over $1.1 billion in Bitcoin, and all for a total transaction fee of $3.54.

$9 Billion Worth of Bitcoin Transferred in Under 60 Minutes

The time interval suggests that all three transactions could be from the same individual or institution. “The regulators had to go very deep into our cold storage solutions,” she said. Coinbase may have applied this process to the highest volume of assets to date, but the institutional custodian BitGo has also used key sharding in custody solutions for diverse tokens. Crypto exchange startup Coinbase just move a huge chunk of all the cryptocurrency in circulation.

  • On that day, forums posts began to emerge suggesting Bitcoiners around the world ought to throw “parity parties” (meaning a party celebrating Bitcoin’s parity with the US Dollar).
  • Some investors are hoping that the same “Santa Clause rally” in stock markets would be carried over to cryptocurrencies this year.
  • Bitcoin has notably been trading sideways over the last few months as it’s seemingly stuck within a tight trading range. not only Update the Sources several time a day and allow Visitors to follow and comment on the latest News; We accept submissions of your own Bitcoin or related Crypto stories. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. However, there’s no exact reason why Bittrex moved such a staggering amount of BTCs even as it completed its Ethereum update and its maintenance on Thursday. Barchart is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve our web experience, and encourage users to Contact Us for feedback and accommodation requests. Mobile home buyers ease home sales. Free appraisals and selling paperwork let sellers relax. Visit

A Vast Majority Of Wallets Did Not Sell BTC For A Year

A few days ago, the Tesla CEO addressed the rumors in an interview on Clubhouse and indirectly confirmed the purchase, although he avoided a direct confirmation. Elon Musk announced today in a filing with the SEC that Tesla has purchased $1.5 billion worth of Bitcoin. According to his tweet, Portnoy purchased 29 Bitcoins on Jan. 28, when the coin was changing hands at around the same level as it is today—$37,300. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.

This gives investors roughly three months to put their crypto affairs in order. But despite this long time frame, the rush to get rid of crypto holdings saw price quotes for USDT drop to as low as 6.12 Yuan per USDT. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the ban takes full effect. As to why the funds are moving, Whale Alert itself noted that the transactions can likely be classified as peeling transactions which is normal behavior for wallets that many exchanges use. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. Almost 70,000 bitcoins stored in the account which, like all bitcoin wallets, is visible to the public, had lain untouched since April 2013.

Mad Money Jim Cramer Thinks Fed Will Take Down Bitcoin

Rafael Schultze-Kraft, the co-founder of on-chain market intelligence company Glassnode, noted that this was the highest transaction volume in terms of USD in Bitcoin’s history. Despite the range-bound movement, some are still bullish on BTC’s long-term prospects. As CryptoGlobe reported, last week Abra CEO Bill Barhydt said he believes the price of Bitcoin willhit $250,000 in the future, while Pantera Capital CEO Dan Moreheadexpects it to 10x in the next five years. The situation may change in the future if Ethereum succeeds in moving its network to proof-of-stake verification. So far Ethereum developers have postponed their plans and the blockchain has been driven by traditional proof-of-work verification. Proof-of-work is currently the most used method to verify the security of blockchains and cryptocurrencies.

The price of Bitcoin topped $500 for the first time in over a year later in 2015. Despite the bear market, a number of big companies announced their support for Bitcoin. began accepting Bitcoin for all purchases on its website, as did Microsoft in the Xbox and Windows stores.

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