Satoshi Nakamoto’s Wallet Resurfaces in a $1.17 Million Move

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Satoshi Nakamoto's Wallet Resurfaces in a $1.17 Million Move
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In the early hours of January 5, an intriguing Bitcoin transaction linked to Satoshi Nakamoto’s wallet stirred conversations in the community.

An unknown user sent 26.9 BTC, valued at $1.17 million, to the Genesis wallet, the very first one ever created on the Bitcoin network. This transaction has sparked curiosity and speculation within 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 that is now empty, with the transaction fee notably standing at $100, well above the average transaction fees observed on the Bitcoin network. Gauging into the wallet’s origin revealed funds moving from three wallets to 12 other wallets before reaching the Genesis wallet.

Notably, a significant portion of the funds can be traced back to a wallet associated with Binance. Arkham Intelligence, a blockchain analytics platform, identified the majority of the funds originating from this Binance-affiliated wallet.

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The Genesis wallet holds a unique position in the history of Bitcoin, being the very first wallet ever created on the network. It was established by the pseudonymous entity known as Satoshi Nakamoto, the mysterious creator of Bitcoin.

Originally containing 50 mined bitcoins, the Genesis wallet received an increase in funds from the global Bitcoin community on its anniversary, pushing the balance to 72 bitcoins by the year 2023. The latest transaction has significantly boosted it to 99.67 bitcoins, now valued at $4.3 million.

Is Satoshi Nakamoto Awake?

Nakamoto not only crafted the groundbreaking cryptocurrency but also likely mined numerous blocks during the early days of the network’s existence. The exact number of blocks mined by Nakamoto remains uncertain.

Despite the theoretical possibility that Nakamoto may still possess 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.

Coinbase Director Conor Grogan shared on X (formerly Twitter) that the transaction could be either Nakamoto reemerging and transferring BTC from Binance or an individual having sacrificed over $1 million. The exec also suggested that this could be an ETF marketing stunt.

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