An Unidentified Wallet Sends $1.19M in Bitcoin to Satoshi Nakamoto’s Genesis Address
An unidentified individual made a significant transaction on January 5, depositing 26.9 BTC, worth around $1.19 million, into the Genesis wallet created by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
The Transaction and Intricate Funding
The transaction took place at 1:52 AM ET, two days after Bitcoin’s 15th anniversary. What made it notable was that the funds could not be retrieved.
Prior to depositing the Bitcoins into the Genesis wallet, the owner of the mysterious wallet funded it through complex transactions involving various addresses, as reported by Arkham Intelligence, an on-chain analytics platform.
Connection to Binance
Arkham Intelligence also discovered that most of the funds originated from a wallet believed to be owned by Binance, a popular cryptocurrency exchange.
Just before sending the funds to Nakamoto’s wallet, the sender withdrew nearly 27 BTC from Binance. The wallet’s activity log only recorded these two transactions.
Given that crypto exchanges like Binance have strict KYC procedures, some speculate that the identity of the sender may be known to Binance’s compliance team.
Reactions and Theories
A director at Coinbase, Conor Grogan, jokingly commented on the news, suggesting that either Satoshi woke up and deposited Bitcoins or someone burned a million dollars.
The Genesis wallet, which was created by Satoshi Nakamoto, has primarily received small dust transactions since its establishment in 2009.
While it is theoretically possible for Nakamoto to possess the private keys and transfer funds from these wallets, it is widely believed to be highly unlikely.
The Genesis Wallet’s Balance
Funds associated with Nakamoto, including those in the Genesis block, have not moved since Nakamoto’s disappearance in 2010.
Initially holding 50 BTC, the Genesis wallet has seen an influx of funds over the years, reaching 72 BTC by the end of 2023. The recent transaction has increased its balance to approximately 99.68 BTC, equivalent to around $4.3 million.
Speculations and Theories
The unexpected transaction has sparked various theories among crypto enthusiasts. Some view it as a tribute to Bitcoin’s creator, while others speculate it could be a financial mistake or a publicity stunt.
Additionally, some believe it may be an attempt to generate excitement ahead of the anticipated approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).
Hot Take: Unidentified Wallet Sends $1.19M in Bitcoin to Satoshi Nakamoto’s Genesis Address
An unidentified individual recently made a significant transaction by depositing $1.19 million worth of Bitcoin into Satoshi Nakamoto’s Genesis wallet. This event has raised many questions and theories within the crypto community. While some speculate it could be a tribute or a publicity stunt, others consider it a financial blunder. The connection to Binance has also fueled speculation about the sender’s identity. However, the prevailing belief is that Nakamoto no longer possesses the private keys to these wallets, making it unlikely for them to transfer funds. Regardless of the motives behind this transaction, it has certainly captured the attention of crypto enthusiasts and added to the ongoing mystery surrounding Satoshi Nakamoto and their creation of Bitcoin.
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