The Bitcoin wallet belonging to Satoshi Nakamoto, the pseudonymous creator of the alpha cryptocurrency, reportedly received over $1 million worth of Bitcoin (BTC).

Coinbase director Conor Grogan first noted the activity, where nearly 27 BTC was deposited into the wallet. Speculation from the crypto community on X (formerly Twitter) soon followed, with Grogan stating in replies that the activity could be related to marketing efforts around the imminent Bitcoin ETF.

Either Satoshi woke up, bought 27 bitcoin from Binance, and deposited into their wallet, or someone just burned a million dollars pic.twitter.com/w34kjnAHPJ

— Conor (@jconorgrogan) January 6, 2024

The wallet in question is also known as the “Genesis” Bitcoin wallet, which minted the first 50 bitcoins into existence. The wallet is regarded as Satoshi’s personal wallet, although such a label can be misleading, given the anonymous status of Bitcoin’s creator(s).

Notably, this address has been dormant since 2011, the same year that Satoshi Nakamoto last provided any public communication about the Bitcoin project.

“I’ve moved on to other things,” Nakamoto said in a final email to Bitcoin developer Mike Hearn on April 23, 2011.

However, as on-chain tracking from Arkham Intelligence indicates, the wallet just received a significant amount, one that’s unusual for its transaction value. The wallet now has nearly 100 BTC, worth roughly $4.3 million, a total that includes the original 50 BTC mined for the Genesis Block, small dust amounts recei

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Author: Vince Dioquino

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