Rare 'Epic Sat' from Fourth Bitcoin Halving Fetches $2.13 Million at Auction
Summary:
A valuable and rare satoshi known as an "epic sat" from the fourth Bitcoin halving block was auctioned for 33.3 Bitcoin (worth about $2.13 million) on cryptocurrency exchange CoinEx Global. The auction began on April 22 and saw 34 bids, ending with an unidentified bidder winning the unique satoshi. This special class of satoshi is adding to the collectible value of parts of the Bitcoin ecosystem.
A rare satoshi, distinguished as an "epic sat" from the fourth Bitcoin halving block, was successfully auctioned off for 33.3 Bitcoin (BTC), translating to an estimated worth of $2.13 million. This particular event unfolded on the cryptocurrency trading platform, CoinEx Global, on April 25, nearly five days post the satoshi's original excavation from block 840,000 on April 20 by Bitcoin mining ensemble viaBTC, a partner of CoinEx. The auction started on April 22, and the epic sat boasting the sequence number "1,968,750,000,000,000", was claimed after 34 bids by an anonymous party. The next highest bid for the coveted sat was 20 Bitcoin. CoinEx, thrilled at the successful event, broadcasted on April 25, "The FIRST & ONLY epic sat auctioned at 33.3 $BTC (≈$2,134,000). This auction triggered widespread acknowledgement and adoption of #Bitcoin, epitomizing acceptance in the community along with media spotlight." An 'epic sat' signifies the first satoshi mined after a Bitcoin halving. Since this phenomena has occurred four times so far, the 'epic sat' count stands at four. These units each have a unique sequence number, which is timestamp-based according to the Ordinals number system. One Bitcoin contains one hundred million sats, with an average satoshi priced at $0.00065. Certain satoshis however, have inherent greater value within the Bitcoin structure due to their unique identifiers, thereby enhancing their collectible status. Scarcity becomes a natural byproduct due to the periodical events taking place within the Bitcoin network. In closely related news, viaBTC mined the fourth halving block, block 840,000, receiving a new block subsidy of 3.125 Bitcoin and an impressive 37.6 Bitcoin in reward fees, valuing $2.4 million during that time. The next Bitcoin halving event is anticipated around 2028 on block 1,050,000, which will further half the mining rewards to 1.5625 Bitcoin.
Published At
4/26/2024 2:57:10 AM
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