In the early hours of January 5, an intriguing Bitcoin transaction linked to Satoshi Nakamoto’s wallet sparked conversations in the community.
An unknown user sent 26.9 BTC, worth $1.17 million, to the Genesis wallet, the first ever on the Bitcoin network. This transaction has sparked curiosity and speculation in the crypto space as the funds are unlikely to be recovered.
Mysterious Bitcoin transaction to Genesis Wallet
The sender initiated the transfer from a wallet it is now empty, with transaction fees notably amounting to $100, well above the average transaction fees observed on the Bitcoin network. Portfolio origin analysis revealed that funds had grown from three wallets to 12 other wallets before reach the Genesis wallet.
Notably, a significant portion of the funds can be allocated to a wallet associated with Binance. Arkham Intelligence, a blockchain analytics platform, identified the majority of funds coming from this Binance-affiliated wallet.
The Genesis Wallet holds a unique position in Bitcoin history, being the very first wallet ever created on the network. It was created by the pseudonymous entity known as Satoshi Nakamoto, the mysterious creator of Bitcoin.
Originally containing 50 mined bitcoins, the Genesis wallet received a boost in funds from the global Bitcoin community on its anniversary, bringing the balance to 72 bitcoins by 2023. The latest transaction increased it significantly to 99.67 bitcoins, now valued at $4.3 million. .
Is Satoshi Nakamoto awake?
Nakamoto not only created the revolutionary cryptocurrency, but probably also mined many blocks during the early days of the network’s existence. The exact number of blocks mined by Nakamoto remains unclear.
Despite the theoretical possibility that Nakamoto still possesses the private keys to access the Genesis wallet and other associated wallets, experts suggest that such a scenario is highly unlikely. No movement has been detected in funds linked to Nakamoto, including those in the Genesis block, since Nakamoto’s unexplained disappearance in December 2010.
Conor Grogan, Director of Coinbase sharing on The executive also suggested it could be a marketing stunt for the ETF.
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