Satoshi’s Genesis Wallet Receives $1.2 Million in BTC
Summary:
The crypto community is abuzz with news that Satoshi Nakamoto’s genesis Bitcoin wallet has received a transfer of $1.2 million in BTC. This unexpected event has sparked a range of speculations and discussions on social media, particularly regarding the implications under the new IRS rules which require reporting of any crypto receipt over $10k. This development has led to theories about the sender’s intentions and the potential consequences for the anonymous Satoshi.
Someone just sent Satoshi’s genesis wallet $1.2 mil. in BTC.
Why?? The only thing that makes any sense is that the sender is flushing Satoshi out.
Under the new IRS rules, you have to report any receipt of crypto over $10k. So, Satoshi has to dox himself, OR break the law. pic.twitter.com/S4vBkSdX21
— Jeremy Hogan (@attorneyjeremy1) January 7, 2024
User Reactions:
- Jeremy Hogan (follow-up): “But why almost $1.2 million? You might miss .2 BTC but over 26 BTC? No way.”
- XRPcryptowolf: “Or maybe a Bitcoin maxi was just being dumb and sent BTC by accident… 🤪”
- Nope: “Satoshi has to cash out right? If he just gets a bunch of crypto and holds on to it and not sell then do they still have to report it?”
- ___g00.xrp: “Assuming he lives in the U.S., correct?”
- A Bowl of Udon: “Yeah but he doesn’t have to do anything if he doesn’t want to. No one can go after him if they don’t know who he is.”
- 2̴̴͎҉̴̴͎2̴̴͎҉̴̴͎2̴̴͎҉̴̴͎2̴̴͎҉̴̴͎2̴̴͎҉̴̴͎: “What’s the possible recourse if it’s not reported?”
- Jeremy Hogan: “Jailtime. See: Wesley Snipes.”
- XrpNurse🩺: “It’s time to come clean now @JoelKatz.”
- MrUseCase 🌎🇺🇸: “The real question is, who has that kind of money to just throw away?”
- Vanessa Harris: “I’m pretty sure if an Internet full of folks couldn’t find out Satoshi’s identity, a couple of IRS agents aren’t going to figure it out.”
- BlockChainTrucker: “Who’s actually gonna report getting 10k plus in crypto 😂😂?”
- XRP Venture: “Why send 1.2 million? Why not just send $100K or less to accomplish the same reporting requirement?”
- georgegrant.eth |👑.btc: “You do realize the US is not the center of the world, right? That law applies only to US citizens.”
- W0rm226☀️: “So what will happen if nothing happens?”
- Jimmy Kostro ⚡️: “You really think Satoshi Nakamoto really cares about the law or would Dox himself over $1.2M 🤣”