Just In: Unidentified Wallet Sends $1.19 Million in Bitcoin to Satoshi Nakamoto’s Genesis Address

Something unexpected has just happened. It seems that an unidentified wallet has just sent $1.19 million in Bitcoin to Satoshi Nakamoto’s Genesis account. Check out more details about this below.

On the 15th anniversary of Bitcoin, an unidentified wallet transferred 26.917 bitcoin, which is worth $1.19 million, into the wallet of Satoshi Nakamoto’s Genesis.

This wallet was created on January 3, 2009, and has mostly had small transactions. Including the hard-coded block reward, minor dust transactions, and the recent 26.917 bitcoin deposit, the total now stands at 99.676 bitcoin, which is equal to $4.35 million.

An anonymous sender sent $1.19 million in bitcoin (BTC) to Satoshi Nakamoto’s “1A1zP” wallet.

This huge sum of 26.917 BTC came from the “bc1q9” address and was confirmed at block height 824,513. It’s unclear why the sender chose to send these funds to the Genesis wallet, given that the funds have become non-spendable.

The first block of the Bitcoin blockchain is known as the genesis block. Its mining reward is unique because it cannot be spent due to a coding peculiarity that caused it to be excluded from the unspent transaction outputs (UTXOs) set.

This was not an intentional decision, but rather a result of the original code structure.

In order to spend Bitcoin, a transaction must reference specific UTXOs as inputs. Since the genesis block’s reward is not included in the UTXO set, it cannot be spent.

However, the wallet associated with the genesis block has continued to receive Bitcoin over the past 15 years, including small transactions (known as dust transactions) and on-chain messages. None of these transactions have been as significant as the 26.917 BTC sent on January 5, 2023.

News.Bitcoin.com notes: “The individual’s intent may have been to influence or shift market sentiment amidst a bullish phase as the community anticipates the decision on a spot bitcoin exchange-traded fund (ETF). The BTC transfer is likely not related to Satoshi Nakamoto at all, and perhaps it served as a costly beacon for attention.”