The recent transaction has sparked speculation within the space. Many people have suggested that the BTC developer has woken up after disappearing from the scene for over a decade.
A mysterious crypto trader has sent $1.2 million worth of Bitcoin (BTC) to Satoshi Nakamoto, the pseudonymous creator of the leading crypto asset by market capitalization.
According to the blockchain data intelligence company Arkham Intelligence, on January 5, 2024, the unknown wallet withdrew approximately 27 BTC from Binance before transferring the assets to Nakamoto’s wallet, which was used for mining the first genesis block in 2009.
Satoshi Nakamoto Woke Up
Currently, the total BTC held in the wallet is estimated to be under 100, with the initial reward of 50 bitcoins Nakamoto received for mining the first genesis block. The assets are valued at around $4 million.
The move comes shortly after the crypto community celebrated the 15th anniversary of the emergence of the crypto evolution on January 3, 2024.
As part of the culture, the crypto community sometimes sends gifts in the form of digital assets to the genesis wallet in appreciation of Nakamoto’s creation.
However, the recent transaction has sparked speculation within the space. Many people have suggested that the BTC developer has woken up after disappearing from the scene for over a decade.
Conor Grogan, an industry executive who serves as the director at Coinbase, came up with the theory that Nakamoto woke up, bought the 27 BTCs, and transferred the assets into their wallet.
Either Satoshi woke up, bought 27 bitcoin from Binance, and deposited into their wallet, or someone just burned a million dollars pic.twitter.com/w34kjnAHPJ
— Conor (@jconorgrogan) January 6, 2024
Expose the True Identity of Bitcoin Creators
Grogan further suggested that the move could be a marketing ploy deployed by influential entities on Wall Street as they battle to launch the first Bitcoin spot exchange-traded fund (ETF) in the United States.
Jeremy Hogan, a legal expert affiliated with Hogan & Hogan law firm, suggested that the transaction might serve as an effort to expose the identity of the Bitcoin’s creator using the newly established US tax regulations.
According to the law, starting this year, taxpayers in the United States must report all crypto transactions exceeding $10,000 to the Internal Revenue Service (IRS).
Hogan believes that this rule will help fish out Nakamoto from hiding and expose his true identity to the world.
“The only thing that makes any sense is that the sender is flushing Satoshi out,” Hogan said in an X post. “Satoshi has to dox himself or break the law.”