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The First Mined Bitcoin Satoshi Auctioned for Seven-Figures
The cryptocurrency community was abuzz after the first satoshi mined on the Bitcoin blockchain following a recent halving event was put up for auction by Bitcoin mining pool ViaBTC. Dubbed the “epic sat,” this historic piece fetched an impressive seven-figure sum during the auction held on the CoinEX cryptocurrency exchange. The final bid of 33.3 Bitcoin, equivalent to $2.13 million, secured the prized satoshi, although the identity of the winning bidder remains undisclosed.
The Epic Sat Auction Details
Commencing on April 20, just one day after the halving event, the auction of the epic sat began with a modest starting bid of 1 BTC, valued at approximately $63,310 at the time. However, as the auction progressed, the winning bid skyrocketed in the final moments from 18 BTC to 20 BTC, eventually settling at an impressive 33.3 BTC.
A satoshi represents the smallest unit of Bitcoin, with the epic sat being especially rare as it is the first satoshi mined post-halving. The scarcity of these epic sats is further highlighted by the fact that only four have been mined to date.
Community Recognition and Value
CoinEx expressed gratitude for the successful conclusion of the auction, highlighting the community recognition, media attention, and widespread embrace of Bitcoin that the event garnered. Emphasizing the appeal of collecting valuable items, CoinEx noted that satoshis’ unique identifiers inherently contribute to their collectible value, especially in light of periodic Bitcoin network events.
Aside from the inherent value of the epic sat as one of the first post-halving satoshis, inscribing or etching on these sats can significantly enhance their value for collectors of Bitcoin Runes tokens and NFT-like Ordinals inscriptions, potentially amounting to millions of dollars in overall worth.
ViaBTC, the mining pool responsible for the milestone 840,000th block on the Bitcoin blockchain, was heralded by CoinEx for mining the epic sat. This block not only marked Bitcoin’s fourth halving but also boasted an epic ‘Rare Satoshi’ designation by the Ordinals numbering system.
Industry experts foresee significant market premiums for projects like Ordinals that can successfully acquire and inscribe an Ordinal on such a rare satoshi, further underlining the allure and value of these unique crypto collectibles.
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