Numerous sources are reporting that a jaw dropping $99 million worth of Litecoin was conducted in a single transaction last Thursday between two wallets at a cost of a gas station cup of coffee (40 cents) and with an entire transaction time of about 2 minutes 30 seconds.
Normally a movement of funds on this large of a scale would have taken days to complete and would have easily costed thousands in fees via traditional banking money transfering methods. If this transaction was conducted across boarders between different countries, you could have also ran into government issues and red tape that could have delayed the transaction even longer.
So, why does any of this matter? This transaction has just become a successful case study that instantly proved how cryptocurrency can allow large cash transactions to be conducted instantly with almost no fees or meddling of nosey government regulators and tax collectors. Throw in the ability to conduct such transactions via a private coin like Bitcoin Private or any of the other main private coins, and you instantly open up a new injection of billions of dollars into the crypto stratosphere.
I believe that the snowball has just been pushed down the hill thanks to this successful 99 million dollar transaction and many more whales will now be attracted to cryptocurrency unleashing a glorious bull run now that they have seen first hand how easily they can now move their funds around the world privately, effectively, and most importantly hassle free.