The First Wallet On The Bitcoin Network Received A Transfer Worth $1.17 Million

Coinbase's director Conor Grogan suggested that the anonymous transfer could be an interesting ETF marketing strategy.

An anonymous user transferred approximately $1.17 million worth of 26.9 BTC to the Genesis wallet, the first wallet on the Bitcoin network created by the creator of Bitcoin, Satoshi Nakamoto.

The Bitcoin transaction took place on January 5th. The assets were sent to the Genesis wallet from an emptied wallet, along with a transaction fee significantly above average, totaling $100.

It was identified that a portion of the funds came from a wallet associated with Binance.

Conor Grogan, a director at Coinbase, stated in a Twitter post that the transaction could signify either Satoshi becoming active again and depositing BTC from Binance or someone spending over a million dollars worth of BTC.

Grogan also suggested that the anonymous transfer could be an unusual ETF marketing strategy.

Since Nakamoto disappeared in December 2010, there had been no movement of funds from wallets associated with Nakamoto, including the Genesis wallets. It is believed that Nakamoto still holds and controls the private keys of these wallets.

The Genesis wallet initially had 50 BTC when Satoshi Nakamoto first disappeared. On the 14th anniversary of BTC, some investors sent BTC to this wallet, increasing its BTC balance to 72.

Following the recent transaction, the number of BTC in the wallet rose to approximately 99.67 BTC, worth around $4.3 million.

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