$1.17M Surprise Transaction for Bitcoin’s First Wallet

Crypto Funding: 26.9 Bitcoin Transferred to Genesis Wallet

On Jan. 5 at 1:52 am ET, an unidentified Bitcoin user transferred 26.9 Bitcoin (BTC) valued at $1.17 million to the Genesis wallet — the first-ever wallet on the Bitcoin network. The transaction fee was notably higher than the average, at $100.

The funds originated from a wallet associated with Binance, according to Arkham Intelligence, a blockchain analytics platform. This complex transaction involved moving funds from three wallets to 12 others.

The Genesis wallet is a significant part of the crypto world today, as it was created by Satoshi Nakamoto, the pseudonymous creator of Bitcoin. This wallet marks the beginning of the Bitcoin blockchain, and is often referred to as “full send crypto.”

As the crypto world continues to evolve, it is important to stay up to date with the latest developments, such as the introduction of Web 3.0 blockchain technology. This technology is revolutionizing the way we interact with the crypto world, making it easier to use and more secure.

Crypto Coinbase and Binance Movements

Conor Grogan, a director at Coinbase, posted on the X platform that the recent purchase of 27 Bitcoin (BTC) from Binance and the subsequent deposit into a wallet could be attributed to Satoshi or a million-dollar marketing scheme.

Grogan also noted that since Nakamoto’s disappearance in December 2010, there has been no activity from the wallets associated with the genesis block. Although theoretically Nakamoto could still have access to the private keys, most believe this is an unlikely scenario.

The Genesis wallet, which initially held the 50 mined Bitcoin when Nakamoto vanished, had its balance increased to 72 Bitcoin (BTC) on Bitcoin’s 14th birthday due to token gifts sent from crypto enthusiasts around the world.

The recent crypto genesis has increased the current balance to 99.67 Bitcoin (BTC), valued at $4.3 million.