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$515 Million in Bitcoin Spent on Illicit Activity This Year Representing 1% of Total BTC Activity

Published 07/02/2019, 07:05 PM
Updated 07/02/2019, 07:21 PM
© Reuters.  $515 Million in Bitcoin Spent on Illicit Activity This Year Representing 1% of Total BTC Activity

Recent research by Chainanalysis suggests that the amount of bitcoin (BTC) spent on illegal transactions this year could hit a record high of $1 billion, even as the ratio of illegal to legal transactions is shrinking, according to a report by Bloomberg on July 1.

As per the report, the total flat value of BTC spent on illegal activity so far this year is thought to be $515 million. The research suggests that by the end of the year, this figure will double to reach $1 billion.

Continue Reading on Coin Telegraph

Latest comments

They place this news against Bitcoin, how many billions of dollars is the cocaine business? almost all that traffic goes through the traditional banking is done with the Fia coins, and the arms traffic? Traffic of Human beings? Bitcoin was created yesterday !!! in 2006 and all these dirty businesses exist long before 2006, and all those businesses through which institutions moved that huge amount of us $, Euros etc.
What's the number for fiat currency? Or is that harder to track...
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