The Genesis wallet has received $1.17 million (€1.07 million) from an anonymous source. The wallet is the first ever storage of bitcoin (BTC), founded by none other than Satoshi Nakamoto. The amount comes from the crypto exchange Binance. This could mean one of two things: either Satoshi Nakamoto has woken up, or someone has been crazy enough to throw away a million.
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$1.17 million worth of bitcoin sent to founder’s wallet
An unknown sender sent a transaction of $1.17 million to the genesis wallet. The wallet is owned by bitcoin founder Satoshi Nakamoto, who has not shown any signs of life since December 2010. The Genesis wallet has remained untouched for years.
The wallet initially contained the first 50 bitcoins ever mined. Bitcoin’s 14th anniversary, in October 2022, was celebrated by sending additional bitcoin to the wallet. At the time, the content rose to 72 bitcoin, worth $3.2 million. Now, with the additional 27 bitcoin sent to the wallet, the total is a whopping 100 bitcoin worth $4.3 million.
The transaction may mean that Satoshi Nakamoto has woken up from his sleep and is replenishing his wallet from Binance. However, this cannot be proven by anyone except Nakamoto himself. The name is a pseudonym, by the way. No one knows the real identity of Bitcoin’s founder. He reportedly owns more than a million bitcoin. That makes him one of the richest people on earth.
Bitcoins may be lost forever
If the sender was not Satoshi Nakamoto, the generous donor has now lost his bitcoin. This action, where a person or organization sends cryptos to an inaccessible wallet, is also known metaphorically as burning.
The cryptos are then lost forever, just like when money is burned. This is often done by project developers who want to increase the value of a crypto. Unless Nakamoto (if he is still alive) decides to open his wallet again, the bitcoins sent have effectively been burned.
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2024-01-06 18:12:27
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