A special on-chain transfer has sparked heated discussion in the crypto community. An unidentified Bitcoin user sent approximately 2.56 BTC to the Bitcoin Genesis Address, which was worth nearly $180,000 at the time. This address is directly linked to the first block mined in 2009 and is widely regarded as a symbolic “starting wallet” left by Satoshi Nakamoto.
Blockchain explorers show that this fund only experienced a one-way inflow, with no records of any outflow. Since the private key associated with the Genesis Address has never been used, it is generally believed to be lost or permanently invalid. Therefore, any Bitcoin sent to it can no longer circulate, effectively “locked” on the chain. After this transfer, the total balance of the address exceeded 57 BTC, valued at several million dollars.
On social media, there was a brief speculation of “Satoshi Nakamoto’s return,” but blockchain analysts quickly clarified: the address has not made any outgoing transactions, and there is no proof of a direct connection to the Bitcoin creator. Several research institutions still estimate that Satoshi mined about 1.1 million BTC in the early days, but these assets have never been moved.
Such events are not unprecedented. Some users refer to these actions as “sacrificing to Satoshi,” often as a symbolic tribute or a deliberate act of asset destruction. Since these Bitcoins will not re-enter the market, they are theoretically expected to slightly reduce circulating supply, but the actual impact on prices is minimal.
In 2024, there have also been instances of transferring high-value BTC to the same address, each time sparking discussions about faith, remembrance, and waste. Industry experts generally believe that real market shocks will only occur when wallets associated with Satoshi Nakamoto make outgoing transactions. Until then, these kinds of transactions are more about adding new footnotes to Bitcoin’s legendary history.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC 15-minute rise of 0.41%: Spotting-led fund rotation in the short term and ETF net inflows fueling a volatility surge
2026-04-07 17:30 to 2026-04-07 17:45 (UTC), BTC recorded a +0.41% return within 15 minutes. The price range was 68412.0 to 68997.4 USDT, with a swing of 0.86%. During the event window, market attention rose; BTC’s volatility was significantly higher than the day’s average, indicating active short-term trading and improved capital liquidity.
The main drivers behind this deviation were short-term reallocations by major on-chain capital and changes in exchange fund flows. Some large BTC addresses transferred single-transaction BTC amounts to major exchanges during the window
GateNews57m ago
Miner address "3PFNdg" selling 265.19 BTC, worth $18.06 million
Gate News, April 7, according to Lookonchain monitoring, the miner address "3PFNdg" sold 265.19 BTC 1 hour ago, worth $18.06 million. It is reported that the last time this miner address sold Bitcoin was 2 years ago.
GateNews1h ago
“Insiders Dumping Everything Except Oil” Claim Hits Tape: BTC, PI, And XRP Reaction
A viral post claimed insiders were liquidating assets except for oil, reflecting traders' concerns about geopolitical tensions and macroeconomic stress. The narrative highlights oil's resilience amid cautious sentiment in crypto markets like BTC and XRP, impacted by factors like Trump's Iran threats.
LiveBTCNews2h ago
BlackRock extracts 2,607 BTC and 28,391 ETH from a certain custody platform
Gate News message, on April 7, according to Lookonchain monitoring, BlackRock withdrew 2,607 BTC (worth $177.56 million) and 28,391 ETH (worth $59.00 million) from a certain custody platform.
GateNews2h ago
Willy Woo: Energy is the only path to forging hard currency, and Bitcoin is built on that.
Gate News message, April 7, a well-known Bitcoin analyst Willy Woo recently responded to a post questioning that “Bitcoin consumes too much energy.” He said there are only three ways to ensure the safety of a currency’s ledger: relying on physical atoms (like gold), depending on energy consumption (like Bitcoin), and building on social/political consensus (like fiat currency). Willy Woo emphasized that energy is the only path to forging an absolute hard currency, and physical atoms are not scarce.
GateNews3h ago
