- Over the past 48 hours, a Revolut user sent more than $5,000 worth of Bitcoin to Satoshi Nakamoto’s wallet, which hasn’t moved a single coin since 2011.
- The wallet holds roughly 1.096 million BTC valued at over $71 billion, making Satoshi the largest Bitcoin holder.
- The motivation behind these recurring donations remains unclear, with theories ranging from tributes and symbolic burns to accidental exchange withdrawals.
- Michael Saylor has highlighted that such permanently locked coins contribute to Bitcoin’s deflationary supply sink, which he estimates at roughly 6 million BTC.
A Revolut user has spent the past two days sending over $5,000 worth of Bitcoin to Satoshi Nakamoto’s wallet, a stash that hasn’t moved a single coin since 2011. On-chain analytics firm Arkham flagged the transactions on Thursday, noting that four transfers from hot wallets linked to Revolut landed in the address within the same window.
The wallet, linked to the Bitcoin creator through a “Patoshi Pattern” mining signature, holds approximately 1.096 million BTC valued at over $71 billion. This makes Satoshi the largest Bitcoin holder, and the coins have never once moved.
Consequently, these transfers effectively function as a voluntary burn, permanently removing coins from circulation. That idea aligns with a thesis Strategy founder Michael Saylor has promoted, emphasizing Bitcoin’s deflationary nature with roughly 6 million BTC already locked away in “supply sinks.”
Such donations are not a new phenomenon. In February, a crypto analyst called a transfer of roughly $181,000 a “tribute” or a “burn” on X. Arkham has also previously addressed similar transfers as either accidental exchange withdrawals or deliberate tributes, including an incident last year where a firm accidentally sent $20,000 to one of Satoshi’s wallets.
Meanwhile, Bitcoin’s price slipped under $65,000, down 1% over the past 24 hours. The motive behind the latest wave remains unconfirmed.
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