Bitcoiners are debating whether the transfer was a costly mistake, an attempt to spark a new wave of hype around the approval of the Bitcoin ETF in the United States or a donation from an altruist. At the same time, the identity of the sender has not yet been revealed.
Satoshi Nakamoto wallet address receives $1.19 million: what we know
Today, early in the morning, Crypto Twitter started discussing a mind-blowing $1,191,134 transaction sent by someone to the wallet that stores the 50 BTC block reward for the first Bitcoin block ever mined in 2009. Most often, this old address is known as “Satoshi Nakamoto Wallet.”
The transaction was authorized yesterday, January 5, 2024, at approximately 7 p.m. UTC. Interestingly, 50 minutes before the transfer to the Satoshi Nakamoto wallet, the mysterious sender withdrew this entire amount of orange coins (nearly 27 BTC) from the Binance (BNB) exchange.
The wallet activity history shows only these two transactions. Since Binance (BNB) has strict KYC procedures, at least its compliance unit knows the person who sent nearly $1.2 million to Satoshi Nakamoto’s wallet.
Typically, transactions to or from Satoshi-era wallets are interpreted as signals of upcoming volatility spikes. As previously reported by U.Today, some early Bitcoiners (BTC) wallets were activated before the Terra/Luna collapse.
Additionally, some Bitcoin (BTC) holders from the early 2010s managed to sell their stake near Bitcoin (BTC)’s current all-time high in November 2021, at a profit of almost 2,300 times.
However, many “legacy” wallets have been caught trading on regular days without a price increase.
Who is Satoshi’s mysterious counterpart?
Cryptocurrency enthusiasts on social media are trying to explain this unusual transaction. Three theories are most frequently discussed by Bitcoiners on X.
First, this transaction may be a tribute to the inventor of Bitcoin (BTC): it occurred two days after the 15th anniversary of the Bitcoin (BTC) mainnet.
Then someone could have sent this huge amount of money by mistake. Furthermore, this could be another attempt to cause euphoria in anticipation of the approval of the Bitcoin ETF (BTC) by the US SEC.