One of only four Bitcoins "epic satz" It just went up for auction for over $2.1 million.
Today, Bitcoin mining pool ViaBTC auctioned an “epic sat” for a total of 33.3 BTC (equivalent to over $2.1 million). The auction, held on the CoinEx exchange platform, saw hot bidding as collectors and enthusiasts competed for the satoshi.
JUST IN: The First Satoshi #BitcoinThe fourth halving block of was auctioned at 33.3. #BTC Worth over $2.1 million 🤯 pic.twitter.com/Sw1tHxWVyR
— Bitcoin Magazine (@BitcoinMagazine) April 25, 2024
The term “epic sat” refers to the first satoshi (the smallest unit of Bitcoin) of each halving era. Halvings occur approximately every four years, coinciding with a decline in block rewards for Bitcoin miners. These “epic sats” are part of an ordinal numbering system that categorizes satoshis based on their rarity and importance within Bitcoin’s historical milestones.
ViaBTC recently mined block 840,000, kicking off the fourth Bitcoin halving and receiving this “epic sat” in the process. The auction opened with a bid of 1 BTC, currently worth $64,000, and bidders competed to push the price up to a winning bid of 33.3 BTC, or $2,134,452 at the time of this writing.
The Ordinals numbering system has sparked controversy and excitement since its inception, creating an emerging market for Satoshi collectors and investors. The rarity levels of Ordinals range from “Common” to “Mythic,” with “Epic Satoshi” standing out as one of the rarest and most sought-after Satoshis, as they only occur in each Half-Life Era.
Markets specializing in Ordinals have seen increased activity, with rare Satoshis fetching prices well above their nominal value. This trend has received widespread attention from miners, developers, investors, and collectors alike due to the increased interest in rarity and collectible Satoshi. The winning bid of 33.3 BTC reflects the high demand for these SATs and the willingness of collectors to pay a premium for them.
The auction of this “Epic Satoshi” for over $2.1 million signifies the cultural and historical significance this rare Satoshi has within the Bitcoin community. As the Bitcoin ecosystem continues to evolve, the market for rare satoshis and related assets is expected to grow, providing new opportunities. Opportunities and strategies for Bitcoin market participants.
