Someone sent 1.2 million USD in Bitcoin to Satoshi Nakamoto's wallet address

It is still unclear whether the transfer of 1.2 million USD in Bitcoin to Satoshi Nakamoto's wallet was intentional or a mistake by the sender.

Someone sent 1.2 million USD in Bitcoin to Satoshi Nakamoto's wallet address

According to the X (Twitter) account of J. Cornor Grogan, a director of cryptocurrency exchange Coinbase, someone transferred 27Bitcoin(about 1.2 million USD) to your Genesis Wallet addressSatoshi Nakamoto, essentially locking this money permanently.

This transaction was conducted in the early morning of January 6, with a fee of up to 100 USD, significantly higher than the average at that time. This is a complex chain of transactions, originating from Binance and eventually ending up in Satoshi Nakamoto's Genesis wallet.

Genesis Wallet was the first wallet created on the Bitcoin network, belonging to its secretive founder Satoshi Nakamoto. Because Satoshi Nakamoto diddisappeared since 2010Therefore, there is a high possibility that the above amount of money will forever be stuck in the wallet, seemingly removed from circulation.

At the time the founder of Bitcoin stopped interacting with the community, the Genesis wallet only had 50 BTC, representing the reward received from mining the first Bitcoin block. Over time, many people have sent more BTC to this wallet as a way to thank Satoshi, causing the amount of money it holds to date to be 99.67 BTC, worth $4.3 million.

Information about Satoshi Nakamoto's Genesis Wallet. Source: Blockchain.com (January 7, 2024)

In addition, Satoshi Nakamoto is also said to hold up to 1.1 million Bitcoin, equivalent to 47 billion USD at the time of writing. Because Satoshi will not return, that money will most likely stay in the Bitcoin founder's wallet forever.

It is still unclear who made the above transfer of 27 BTC, as well as the specific reason. A coincidence is that the transaction took place just a few days afterBitcoin celebrates its 15th anniversary, since Genesis Block on January 3, 2009.

In addition, a number of companies in the industry are also preparing activities to promote Bitcoin in the eyes of public opinion. Typical is effortSend 1 Bitcoin to the Mooncomes from the BitMEX exchange.