On January 5th, just two days after Bitcoin's 15th anniversary, a mysterious transaction has the cryptocurrency community scratching their heads. Someone sent 27 Bitcoin (approximately $1.2 million) to the network's genesis address, the very first wallet ever created that mined the first block of Bitcoin's blockchain. This legendary wallet, once controlled by the elusive Satoshi Nakamoto, has become a digital monument to the birth of Bitcoin.
The sender's history reveals only a single transaction: the withdrawal of 27 Bitcoin from the Binance exchange followed by their immediate transfer to Satoshi's dormant wallet. This gesture has sparked speculation and intrigue.
Some interpret it as a symbolic "tribute" to Bitcoin's origins, a fitting commemoration on the anniversary. The genesis wallet already holds 50 original mining rewards, hundreds of small transactions, and now, these 27 new Bitcoins, bringing its total value to nearly 100 BTC worth over $4.6 million.
Overall, there are dozens of wallet addresses created by Satoshi, and they hold over 1,100,000 Bitcoins worth almost $50 billion...
While 27 Bitcoin might be mere pocket change for the mythical Satoshi, for most others, it's a significant investment.
"Either Satoshi woke up, bought 27 bitcoin from Binance, and deposited into their wallet, or someone just burned a million dollars," Coinbase director Conor Grogan said in an X post.
...or is there more behind it?
Flushing Out Satoshi?
One intriguing theory suggests this could be designed to force Satoshi out of hiding, by testing a new US law requiring all crypto transactions exceeding $10,000 to be reported to the IRS.
If Satoshi is a US citizen, even he would need to report the transfer.
Personally, I'm among a fairly large segment of the crypto world that believes Satoshi is long gone, and most likely passed away shortly after Bitcoin's launch.
As with most Satoshi related stories, I'm not expecting to learn more than what we know now.
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Author: Mark Pippen
London Newsroom
GlobalCryptoPress | Breaking Crypto News
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