Community celebrates Bitcoin Genesis Day by sending BTC to the Genesis block

As Bitcoin (BTC) had its 14th birthday, Bitcoiners from round the world are celebrating in numerous methods, with some opting to ship BTC to the handle containing the rewards for mining the Genesis block.

On January 3, 2009, the pseudonymous Bitcoin creator Satoshi Nakamoto mined the Genesis block, which led to the minting of the first 50 BTC. This occasion paved the manner for a whole trade to be developed, with thousands and thousands of individuals working towards an identical imaginative and prescient for the future of cash. This is why on this present day, many confirmed their respect by posting numerous greetings to the cryptocurrency that began all of it.

While many celebrated the day by posting greetings, some tipped their hats to the Bitcoin creator by sending small quantities of BTC to Satoshi’s pockets handle. On Jan. 3, there are a number of small transactions sending BTC to the pockets. However, since its inception, folks have randomly despatched Bitcoin to the account, pushing its complete steadiness to 68.56 BTC, which is price $1.1 million at the time of writing. 

Apart from sending BTC to the Genesis block pockets, Bitcoiners have created numerous greetings, together with a video displaying the newspaper that accommodates the headline stamped on the Genesis block.

On Dec. 28, which is per week earlier than the Bitcoin Genesis Day, enterprise intelligence agency Microstrategy added extra Bitcoin to its holdings. The transfer divided the crypto neighborhood, with some stating issues over one entity holding a considerable amount of BTC. 

Related: Bitcoin volatility could return in ‘catch up’ with gold in 2023

In different information, a tax legal professional not too long ago highlighted Microstrategy’s intent to cut back capital good points in a tax yr by promoting BTC at a loss. International tax legal professional and CPA Selva Ozelli instructed Cointelegraph that, at the second, there isn’t any crypto-specific wash sale rule that prohibits promoting at a loss and reacquiring inside 30 days.