• On March 16, 2023 a single bitcoin transaction worth over $1b was made.
• This transaction demonstrates the efficiency and cost-effectiveness of using cryptocurrency for large settlements compared to traditional banking methods.
• The transaction cost just 0.000008285714285714285% of the total value in fees, showing how much cheaper it is to use cryptocurrency than traditional banks.

Massive Bitcoin Transaction

On March 16, 2023 over 40,141 bitcoin (BTC) were moved in a single transaction worth over $1 billion from 254 addresses to two separate output addresses. This massive transfer serves as an example of the many benefits of utilizing cryptocurrency for large settlements such as efficiency, cost-effectiveness, and security compared to traditional banking methods.

Costs Compared To Traditional Banking

In traditional banking systems, moving such a large sum of money would generally involve numerous intermediary banks each charging fees for processing the transaction; resulting in slower transfers, higher costs and increased complexity. With Bitcoin however, no intermediaries are required and transactions can be completed in minutes or hours depending on network congestion and fees paid by sender; significantly faster than bank transfers which often take days. The fee for this specific transaction was 333,000 satoshi worth about $87 – just 0.000008285714285714285% of the total value transferred – showingBitcoin’s huge advantage over traditional banks when it comes to costs.

Security Of Cryptocurrency Transactions

Cryptocurrency transactions are secure due to their decentralized ledger system which eliminates the need for intermediaries and enables direct peer-to-peer transactions with minimal risk of fraud or tampering with funds. Furthermore all involved addresses in this particular transaction were owned by major cryptocurrency exchange Binance adding further security assurances against data breaches or other malicious activities.


The $1 billion dollar Bitcoin transfer serves as reminder that cryptocurrencies provide various advantages when it comes to large scale settlements including speed and cost effectiveness compared to traditional banking methods making them an attractive option even for big players like Binance.

Further Information About Bitcoin

For further information about Bitcoin consult ColdFusion’s video on the topic or visit their website at www .coldfusion .com