Just over $ 1 billion, or 88,857 Bitcoins, were transferred in two installments, within minutes of intervals, on Monday, October 26. This record-breaking cryptocurrency transaction is said to come from a Hong Kong-based company. More details of Record transaction of Bitcoins over $ 1 billion in Hong Kong here.

Record transaction of Bitcoins over $ 1 billion in Hong Kong

A record cryptocurrency transaction was made on Monday, October 26. 88,857 Bitcoins were transferred between two digital wallets, i.e. $ 1.15 billion. It could be the biggest value ever transferred with this dematerialized currency, reports BFMTV

According to Cubic, this large sum was transferred in two times, a few minutes apart: 45,671 Bitcoins first (or $ 602 million), then 43,185 Bitcoins (or $ 570 million).

The transaction fee for such a sum is $ 3.54. This amount may seem ridiculous, but it is actually higher compared to the commission normally charged for each transaction: 1.75 dollars.

The transaction comes from a Hong Kong company

If this sum had been transferred with a PayPal to another country, the transaction costs would have amounted to almost 50 million dollars. They would have been 33 million in the event of transfer within the same country, according to a figure of Silicon Valley.

The addresses that were used for the transfers of these sums would refer to a company specializing in storage solutions for cryptocurrency, Xapo. The latter is based in Hong Kong. One of the biggest transactions that was made dates back to 2011: 550,000 Bitcoins had been sent. They represented, at that time, a little over a million dollars.

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