đ¨Bitcoin â Stranger Sends $1.2 Million to Satoshi Nakamotoâs Wallet
â An interesting event happened recently in the crypto world. An individual sent $1.2 million worth of bitcoin to Satoshi Nakamotoâs Genesis wallet. The very first wallet created on the Bitcoin network. Of course, Nakamoto is long gone and it is very unlikely that he will ever recover these funds. This article takes an in-depth look at this mysterious BTC transfer and what it represents.
đ¨Bitcoin transfer to Genesis wallet
â On January 5, 2024, an unknown bitcoin user sent 26.9 BTC, worth $1.17 million, to Satoshi Nakamotoâs Genesis wallet. The transaction took place at 1:52 a.m. Eastern Time. The bitcoins came from a now empty wallet. They were sent to the Genesis wallet with a transaction fee of $100, well above average.
â The mystery wallet was initially funded via a complex transaction involving funds flowing from three different wallets to 12 other wallets. The majority of funds came from a wallet identified by blockchain analysis platform Arkham Intelligence as belonging to the Binance exchange.
â The Genesis wallet originally only had the 50 bitcoins mined when it was created. Over time, more funds were sent there and its balance rose to 72 Bitcoins at the end of 2023. With this latest transaction, the current balance is 99.67 bitcoins, or $4.3 million.
đ¨The Genesis and Satoshi Wallet
â The Genesis wallet is the very first wallet created on the Bitcoin network by Satoshi Nakamoto. He also likely mined a large number of other blocks on the network, but it is unclear exactly how many.
â Although theoretically Nakamoto could still hold the private keys to access these wallets and move the funds, the general consensus is that it is very unlikely that he would do so. Indeed, no funds in the portfolios associated with Nakamoto, including those in the Genesis block, have moved since his disappearance in December 2010.
