An anonymous user has completed the largest Bitcoin transaction in history in terms of dollar value
While the price of Bitcoin remains stable at around $13,000, one address has moved over a billion dollars in BTC.
According to on-chain data, the owner of a Golden Profit wallet (BTC) moved over 88,857 BTC (equivalent to $1.15 billion) paying a fee of just 0.00027847 BTC, or about $3.50. The transaction was confirmed on October 26th, at block number 654,364.
The CrystalBlockchain analysis platform shows that the user sent these funds from an address labeled „Xapo Bitcoin“: since Coinbase Custody acquired Xapo’s institutional business in 2019, it is likely that this nearly BTC 90,000 transaction came from the US exchange.
This is the largest transaction ever in terms of its fiat money value; the Bitfinex exchange broke the previous record in April by transferring 161,500 BTC ($1.1 billion at the time) for a fee of only $0.68.
However, these two transactions do not represent the largest amount of Bitcoin ever moved. This honor is due to a transaction of 550,000 BTC made on November 16, 2011 by the well-known exchange Mt. Gox: at the time the value of this transaction was $ 1.32 million, while today the same amount of Bitcoin would be worth over $ 7 billion.
The central bank of Kenya is exploring CBDCs because of the ‚proliferation‘ of private crypto
The Governor of the Central Bank of Kenya explained to journalists that the institution „already feels excluded“.
The Central Bank of Kenya, or CBK, has begun discussions with international central banks to explore the possibility of entering the field of Central Bank Digital Currency.
During DC Fintech week in Georgetown, CBK Governor Dr. Patrick Njoroge said that:
„The CBK is already discussing the introduction of Central Bank Digital Currency with other global players in various ways. The initiative is the result of the proliferation of private cryptocurrencies, we already feel excluded and we must create our own space“.
According to Njoroge, the central bank must pay maximum attention to the „niche“ that private sector cryptocurrencies aspire to. The Governor of the CBK reported money laundering and the financing of illegal activities as a central concern for the institution. However, he seemed less convinced of the global trend towards a truly cashless society, characterizing progress in this direction as a simply „less-cash“ context.
Njoroge’s explicit reference to ongoing global research to determine how, theoretically, to introduce a CBDC available to the general public seems to place the central bank-backed digital currency in direct competition with decentralized currencies.
In addition, the governor of the CBK expressed a rather contemptuous opinion on Bitcoin (BTC), describing the asset as a simple tool for speculation. Although he considers the underlying technology of cryptocurrency extraordinary, he maintains that it is still an invention in search of a problem to solve.
With cryptocurrency trading on the rise on the African continent, local entrepreneurs are cautiously optimistic about the likely implementation of stricter regulations. In September, Stephany Zoo of Bitpesa, Kenya-based crypto exchange, explained to Cointelegraph in September that, despite the risk of heavy interventions stifling innovation, better integration with the traditional financial infrastructure could prove to be a boost for the crypto sector.