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Bitcoin Transfer of $1.17M to Nakamoto’s Genesis Wallet Sparks Speculation

Bitcoin Conor Grogan, a Coinbase director, has raised intriguing possibilities surrounding a mysterious Bitcoin transfer. An anonymous user sent 26.9 Bitcoin (BTC), valued at $1.17 million at $43,864 per BTC, to the genesis wallet—the original wallet created by Satoshi Nakamoto, Bitcoin's pseudonymous founder.This transaction, occurring on January 5th at 1:52 am Eastern Time, involved an
Conor Grogan, a Coinbase director, has raised intriguing possibilities surrounding a mysterious Bitcoin transfer. An anonymous user sent 26.9 Bitcoin (BTC), valued at $1.17 million at $43,864 per BTC, to the genesis wallet—the original wallet created by Satoshi Nakamoto, Bitcoin’s pseudonymous founder.

Unidentified wallet sends $1.2m BTC to Satoshi Nakamoto

This transaction, occurring on January 5th at 1:52 am Eastern Time, involved an emptied wallet and a notable $100 transaction fee, surpassing the average. Initial funding for the wallet included moving funds from three wallets to 12 others, with a major portion originating from a Binance-associated wallet on Arkham Intelligence, a blockchain analytics platform.

Conor Grogan, a director at Coinbase, shared on social media that the transaction could be Nakamoto resurfacing and depositing BTC from Binance or an individual burning over $1 million. Additionally, he speculated that the anonymous transfer might be a peculiar marketing ploy for a Bitcoin exchange-traded fund (ETF).

Notably, no movement of funds from Nakamoto-associated wallets, including the genesis wallet, has occurred since Nakamoto’s disappearance in December 2010. There remains a possibility that Nakamoto still holds the private keys, retaining control over the funds.

Originally holding the 50 mined Bitcoin, the genesis wallet’s balance increased to 72 Bitcoin by late 2023 due to gifts from users worldwide celebrating Bitcoin’s 14th birthday. The recent transaction has elevated the current balance to 99.67 Bitcoin, valued at approximately $4.3 million. The implications of this mysterious transfer continue to captivate the cryptocurrency community.

Wasif Shakir

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