Here Are The 5 Biggest Bitcoin Transactions From 2019-2020

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Bitcoin has long been celebrated for its decentralized nature, transparency, and peer-to-peer financial freedom. Yet, behind the scenes, a significant portion of its value is concentrated in relatively few hands—particularly among major exchanges and institutional holders. With the top 2,000 Bitcoin addresses controlling over 40% of all BTC, it's no surprise that some of the largest transactions in cryptocurrency history involve massive transfers worth hundreds of millions, even billions, of dollars.

These monumental movements aren't just about wealth concentration—they also highlight Bitcoin’s robust infrastructure. Billions in value can be transferred across the globe quickly, securely, and at minimal cost, proving that Bitcoin functions as one of the most efficient and trusted digital payment rails available today.

Below, we explore the five largest Bitcoin transactions between 2019 and 2020—based on USD value at the time—offering insights into their origins, implications, and what they reveal about the evolving crypto ecosystem.

1. The Largest Bitcoin Transaction: $1.1 Billion (161,500 BTC) – April 10, 2020

Topping the list is a staggering transfer of 161,500 BTC, valued at approximately $1.1 billion at the time. This single transaction stands as the most valuable Bitcoin movement ever recorded by dollar amount.

Blockchain analysts quickly flagged the transaction due to its sheer size. What made it even more intriguing was the internal structure: while 161,500 BTC were moved initially, 146,500 BTC were returned to the original address, with only 15,000 BTC retained in a new wallet.

The mystery was soon solved. Paolo Ardoino, CTO of Bitfinex, confirmed via Twitter that the exchange had used this transaction to replenish its hot wallet from a cold storage reserve—a common operational practice to ensure liquidity for withdrawals while maintaining security.

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What’s truly remarkable? The network fee for moving $1.1 billion was just **0.00010019 BTC**, equivalent to about **$0.68** at the time. This underscores Bitcoin’s unmatched efficiency in handling high-value transactions with negligible costs.

2. $1.033 Billion Transfer (106,857 BTC) – February 25, 2020

The second-largest Bitcoin transaction by value occurred on February 25, 2020, when 106,857 BTC—worth $1.033 billion—was transferred between wallets. This movement was later linked to a broader pattern of fund reallocation involving Blockchain.com (formerly Blockchain.info).

Further analysis revealed that the receiving address had previously received 111,857 BTC on October 14, 2019, from an address associated with Blockchain.com’s custodial services. That same address later sent out 101,857 BTC on June 27, 2020, reinforcing the idea that this was part of routine treasury management.

Such large-scale internal transfers are common among exchanges and custodians aiming to rotate funds between hot and cold wallets for enhanced security and operational flexibility.

This case illustrates how seemingly mysterious whale movements often reflect routine institutional activity rather than market-altering decisions.

3. $1 Billion Transfer (94,504 BTC) – September 6, 2019

On September 6, 2019, a transaction involving 94,504 BTC crossed the blockchain at a price point where Bitcoin hovered around $10,654**, pushing the total value just over **$1 billion.

Unlike previous entries on this list, this transfer drew intense speculation because the addresses involved were not publicly linked to any known exchange or custodian. Whale Alert, the popular blockchain monitoring account, flagged the movement immediately.

Some speculated it could have been Bakkt preparing to onboard client funds, while others like commentator Max Keiser suggested involvement from a traditional financial institution.

Despite the mystery, no entity has claimed responsibility. Interestingly, Bitcoin’s price dropped sharply in the following month—from $10,654 on September 6 to $8,140 by October 6—leading some to theorize that the sale pressure may have stemmed from this or related movements.

This transaction remains one of the most enigmatic in recent history—highlighting both the privacy features of Bitcoin and the challenges in tracking large anonymous flows.

4. $894 Million Sent by Bitstamp to Xapo (107,848 BTC) – October 14, 2019

In October 2019, Bitstamp, one of Europe’s oldest cryptocurrency exchanges, executed a major custody transfer: 107,848 BTC, valued at $894 million, was sent to Xapo, a leading cold storage provider.

This wasn't a standalone transaction but part of a larger movement involving 112,027 BTC distributed across multiple secure addresses. The move signaled Bitstamp’s commitment to securing user assets through professional-grade offline storage solutions.

Nejc Kodrič, CEO of Bitstamp, emphasized how low the transaction fee was—comparable to “the price of a cup of coffee”—despite moving nearly $900 million. This further reinforces trust in Bitcoin’s network as a reliable settlement layer capable of supporting institutional-grade operations.

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5. $491 Million Moved (48,952 BTC) – February 16, 2020

On February 16, 2020, a wallet transferred 48,952 BTC, worth $490.5 million at the time. While smaller in dollar terms than prior entries, this transaction still ranks among the top five largest during this period.

Initial reports from Whale Alert noted that the addresses were unknown. However, forensic analysis suggested links to Bittrex, based on historical address patterns used by the exchange.

Cryptocurrency researcher Larry Cermak speculated that such movements might also serve to boost on-chain volume metrics—a tactic some exchanges use to signal liquidity and activity.

Once again, the transaction fee was minimal: only 0.000067 BTC (~$0.66)—demonstrating Bitcoin’s scalability for high-value settlements regardless of sender identity.

Honorable Mention: The Largest BTC Volume Transfer (500,000 BTC in 2011)

While not among the highest in USD value during 2019–2020, it’s worth noting that the largest Bitcoin transaction by volume occurred back in 2011, when 500,000 BTC changed hands in a single transfer.

At the time, it was valued at just $1.13 million**. But if repeated today at current prices, it would exceed **$5 billion—making it potentially the most valuable Bitcoin transaction ever in nominal terms.

The identities behind this historic transfer remain unknown, but it serves as a powerful reminder of Bitcoin’s evolution from niche digital experiment to global financial asset.

Frequently Asked Questions

Q: What defines a “large” Bitcoin transaction?

A: A large Bitcoin transaction is typically measured either by USD value or total BTC amount transferred. Transactions exceeding $500 million or involving tens of thousands of BTC are considered significant and are often flagged by blockchain monitoring tools like Whale Alert.

Q: Are these large transfers usually from exchanges?

A: Yes—many of the largest transactions originate from cryptocurrency exchanges or custodial services moving funds between hot and cold wallets for security and operational purposes.

Q: Can anyone track large Bitcoin transactions?

A: Absolutely. All Bitcoin transactions are public and recorded on a transparent ledger. Tools like blockchain explorers and Twitter bots like Whale Alert monitor and report large movements in real time.

Q: Do big transactions affect Bitcoin’s price?

A: Not always directly—but they can influence market sentiment. If a large transfer goes to an exchange, it may signal potential selling pressure; if funds move to cold storage, it may indicate long-term holding intentions.

Q: Why are fees so low despite high value?

A: Bitcoin fees are based on transaction size in bytes—not monetary value. Whether you send $1 or $1 billion worth of BTC, the data footprint is nearly identical, resulting in consistently low fees.

Q: Is Bitcoin truly decentralized if so much value is concentrated?

A: While decentralization remains a core principle, wealth concentration exists—especially among early adopters and institutions. However, the network itself remains decentralized and resilient against single points of failure.

Core Keywords

Bitcoin continues to prove its worth not just as a speculative asset but as a powerful global settlement system. The ability to move nearly $1.1 billion for less than a dollar in fees is unprecedented in traditional finance—and these landmark transactions from 2019–2020 offer compelling evidence of its growing maturity.

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