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How to transfer $1 billion for basically free: Bitcoin whale watching

Published 11/04/2022, 01:45 PM
Updated 11/05/2022, 04:00 PM
How to transfer $1 billion for basically free: Bitcoin whale watching

Billionaires, take note. It's one million times cheaper to send huge sums of money on the Bitcoin (BTC) blockchain.

A Bitcoin user sent over 50,562 BTC ($1 billion) to an address on the blockchain, paying a fee of just 2,513 satoshis, or sats (the smallest denomination of a Bitcoin), equivalent to half a dollar, for the pleasure.

Transaction sankey diagram showing fees, value and time. Source: mempool
Experimenting sending vast sums of money with legacy financial tools. Source: Wise

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