‘Epic sat’ sells half of fourth block of Bitcoin for $2.1M
An “epic sat” – an extremely rare satoshi produced from the fourth half block of bitcoin – was sold for 33.3 bitcoins (BTC), worth $2.13 million.
The sale of satoshi – the smallest unit of Bitcoin – was held on April 25 by cryptocurrency exchange CoinEx Global – one of its partners, a Bitcoin mining pool, mined 840,000 in BTC five days later on April 20.
The auction, which began on April 22, saw 34 bids before an anonymous bidder won the title – “per sat number 1,968,750,000,000,000”.
The next closest competitor is the rare sitting 20 Bitcoin auction.
“The auction has been successfully completed, selling the FIRST & ONLY epic sat for 33.3 $BTC (≈$2,134,000),” CoinEx posted on April 25.
“This auction is not just an auction; It has shown community recognition, media attention and widespread acceptance of #Bitcoin.
Epic Sat represents the first satoshi produced in the first new half block of Bitcoin. Consisting of four halves, only four of these rare seats are available.
These sats are assigned a unique serial number using the ordinals numbering system based on the mining time stamp.
As there are one hundred million satoshis in Bitcoin, one ordinary satoshi is currently sold for $0.00065.
But certain sats have special meaning in the Bitcoin ecosystem, CoinEx explained.
“Satoshis are given unique identifiers and have an inherently high collectible value. As happens periodically in the Bitcoin network, some more frequently than others, scarcity naturally spreads.”
Bitcoin Ordinals browsers like Ordiscan and OrdinalHub can be used to determine whether a Bitcoin wallet owns a rare sat by verifying the correct UTXO and result number. Users with rare sat can transfer to a regular supported wallet.
Related: El Salvador's Bitcoin Wallet Gets Sat, Cats, and a Cypherpunk Manifesto
ViaBTC Block 840,000, the fourth half block, at 12:09 am UTC on April 20, 2010.
He received a new block grant of 3.125 bitcoins in addition to the eye-opening 37.6 bitcoins worth $2.4 million at the time.
The next Bitcoin halving event is expected to occur in 2028 at block 1,050,000, which will halve mining rewards to 1.5625 Bitcoin.
Big questions: How can Bitcoin payments generate returns?
