The Block: Bitcoins worth $1 billion just moved to an unknown wallet

Over 94,000 bitcoins, currently worth over $1 billion, have just been moved to an unknown wallet; possibly associated with Bakkt.

The transaction, which took place three hours ago , consolidated bitcoins from 92 different inputs from 15 addresses into just one address that now holds 94,505.8 BTC. More than half of the sent BTC (56%) came from just one address . The same address has also moved 124,178 of Bitcoin Cash (~$36.7 million) and 124,178 of BSV (~$16.3 million). Another 42% of BTC came from three other addresses. The transaction fee cost approximately $700, meaning just 0.00007% of the total amount.

The receiving address is now the fifth-largest BTC wallet, and the largest wallet not associated with a cryptocurrency exchange. Considering that Bakkt begins to offer bitcoin custody starting from today , it is possible that the receiving address belongs to Bakkt.