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February 27, 2024
PI Global Investments

Satoshi Nakamoto Is Back? Bitcoin Worth Over $1 Mln Moved To Satoshi’s Wallet

Satoshi Nakamoto, a pseudonymous person or a group of people who developed Bitcoin, seems to be back days after the crypto community celebrated 15th anniversary, commemorating Satoshi Nakamoto mining the genesis block of Bitcoin. Someone just transferred 27 BTCs to Satoshi Nakamoto’s wallet address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.

Satoshi Nakamoto Becomes Active

A historical transaction was executed on January 6 as someone purchased 27 BTCs from crypto exchange Binance and sent them to Satoshi Nakamoto’s wallet address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.

The news spread like wildfire in the crypto community with most people anticipating the return of Bitcoin father Satoshi Nakamoto. Some speculate whether it was actually Satoshi or did someone just transferred 27 BTC worth over $1 million to bring Bitcoin adoption and growth into the spotlight.

The transaction coincided with spot Bitcoin ETF issuers updating 19b-4 amendments, which indicates a likely approval of spot Bitcoin ETF by the U.S. SEC next week. BlackRock, Grayscale, Fidelity, Ark 21Shares, Bitwise, VanEck, Valkyrie, Invesco Galaxy, Hashdex, WisdomTree, and Franklin Templeton are in the race for spot Bitcoin ETF approval.

Bloomberg ETF analyst James Seyffart points out that these filings do not guarantee approval but represent a significant advancement in the process. Senior ETF analyst Eric Balchunas noted that the final S-1s are due on Monday, with the SEC expected to approve spot Bitcoin ETFs on January 11.

Also Read: Blackrock Bitcoin ETF Has $2 Billion Worth BTC Lined Up For Trading

More About the Transaction and Wallet

Satoshi Nakamoto mined the genesis Bitcoin block on January 3, 2009, with 50 BTC added to wallet address 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa.

The latest transaction in block 824513 executed today is the second largest in terms of amount, with 26.91 BTCs added to the wallet from bc1q9z82prqdknpv4ku3haargeu7c0h67yrpree6v2. Satoshi’s wallet now holds 99.67 BTC worth over $4.3 million.

Also Read: Bitcoin ETF Launch Expected On January 11, Hints Bloomberg Analyst

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