Why were 26 bitcoins sent to Satoshi Nakamoto’s wallet?

Brief:

-A user recently sent 26 BTC to Satoshi Nakamoto’s wallet, sparking speculation about the motive behind the transaction.

-US attorney Jeremy Hogan predicts that it was an attempt to force Satoshi Nakamoto to reveal his identity.

-This interesting move is in line with recent IRS regulations requiring reporting of cryptocurrency transactions over $10,000.

An anonymous user recently sent 26 bitcoins to the wallet of Satoshi Nakamoto, the anonymous creator of bitcoin, sparking speculation about the purpose behind the transfer of more than $1 million in digital assets.

Bitcoin’s current price is $46,899, the equivalent of $1.22 million. Bitmain

Satoshi Nakamoto Holds the Original Bitcoin Wallet

According to blockchain.com, the transaction took place on Jan. 6, and it was sent to the first wallet ever created on the Bitcoin network.

Transaction to the Satoshi 1 wallet on January 6th. Source: blockchain.com

However, U.S. attorney Jeremy Hogan predicted on X (formerly Twitter) that the move was an attempt to force Satoshi Nakamoto to reveal his identity.

The Internal Revenue Service (IRS) recently implemented regulations requiring the reporting of any cryptocurrency transaction over $10,000. This includes providing a name and address within 15 days of receiving the transaction.

“Why? The only interesting thing is that the sender is eviscerating Satoshi Nakamoto. Under the new IRS rules, you must report any cryptocurrency receipts over $10,000 dollars. As a result, Satoshi Nakamoto must expose himself to the public or be suspected of breaking the law.”

Estimating Satoshi Nakamoto’s Bitcoin Holdings

According to multiple estimates, Satoshi Nakamoto owns no less than 1.1 million BTC. industry insiders have recently speculated what the value will be in 2025 if a cryptocurrency bull market occurs. Whatsminer

Community members expect the upcoming halving of Bitcoin to spark a new Bitcoin bull market. However, some have speculated whether the halving will make Satoshi Nakamoto one of the richest people in the world.

Satoshi Nakamoto, the inventor of bitcoin, started mining his first bitcoins in 2009, when bitcoin was still unknown to the general public. Although he stopped soon after, he still had time to mine over a million tokens.