Since Bitcoin (BTC) had its 14th birthday, bitcoiners from around the world are celebrating in a variety of ways, with some choosing to send BTC to the address that contains the rewards for mining the Genesis block.
On January 3, 2009, pseudonymous Bitcoin creator Satoshi Nakamoto mined the Genesis block, resulting in the minting of the first 50 BTC. This case paved the way for the development of an entire industry, with millions of people working towards a similar vision for the future of money. Because of this, many have shown their respect on the day by posting various greetings to the cryptocurrency that started it all.
Essen, Germany
Celebrating #Bitcoin Genesis Day
&
sound money#healthy money pic.twitter.com/3Ol5E2QdSZ
— El Bitcoin Ambassador (@elbitcoinamb) January 3, 2023
While many celebrated the day with greetings, some paid tribute to the Bitcoin creator by sending small amounts of BTC to Satoshi’s wallet address. On January 3rd there are several small transactions sending BTC to the wallet. However, since its inception, people have been sending Bitcoin into the account at random, bringing its total balance to 68.56 BTC, which is worth $1.1 million at the time of writing.
In addition to sending BTC to the Genesis block wallet, bitcoiners have created various greetings, including a video showing the newspaper containing the headline stamped on the Genesis block.
Blow out your candle #Bitcoin Genesis Block! pic.twitter.com/KoY1GPbs4O
— TIP_NZ (@tip_nz) January 3, 2023
On December 28, a week before Bitcoin Genesis Day, business intelligence firm Microstrategy added more bitcoin to its holdings. The move divided the crypto community, with some citing concerns about an entity holding a large amount of BTC.
Related: Bitcoin volatility could return in 2023 to catch up with gold
In other news, a tax attorney recently highlighted Microstrategy’s intent to reduce capital gains in a tax year by selling BTC at a loss. International tax attorney and CPA Selva Ozelli told Cointelegraph that there is currently no crypto-specific wash sale rule prohibiting sell-at-loss and reacquire within 30 days.
