Bitcoin’s first wallet receives an astonishing $1.17M

An anonymous Bitcoin user transferred 26.9 Bitcoins (BTC), worth $1.17 million, to a Genesis wallet – the first wallet on the Bitcoin network founded by anonymous Bitcoin creator Satoshi Nakamoto.

The Bitcoin transaction took place on January 5th at 1:52 AM ET. The money was sent from an empty wallet to a Genesis wallet, with a $100 transaction fee attached, which is typically higher than average.

The initial fund of the wallet involves transferring money from three wallets to 12 others. Most of the funds came from a wallet connected to Binance on Arkham Intelligence, a blockchain analytics platform.

Conor Grogan, the director of Coinbase, said in X (formerly Twitter) that Nakamoto woke up and saved BTC from Binance, or someone burned more than 1 million dollars.

Grogan also suggested that the anonymous transfer could be a form of financial transaction traded on some exotic Bitcoin exchange.

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There has been no movement of funds from wallets linked to Nakamoto since his disappearance in December 2010.

The Genesis wallet initially contained 50 million bitcoins when Nakamoto disappeared. Bitcoin users around the world have celebrated Bitcoin's 14th birthday in various ways, with some opting to mine BTC in the Genesis Block and send the prize to the recipient's address. The gifts increased the wallet balance to 72 bitcoins by the end of 2023.

A recent transaction raised the current balance to 99.67 Bitcoin, worth around $4.3 million.

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