Bitcoin (BTC) has turned 14 years old and bitcoiners around the world are celebrating in a variety of ways. Some have chosen to send BTC to the address that contains the rewards for mining the Genesis block.
On January 3, 2009, the pseudonymous creator of Bitcoin, Satoshi Nakamoto, mined the Genesis block, which led to the minting of the first 50 BTC. This instance paved the way for an entire industry to develop, with millions of people working towards a similar vision for the future of money. So on this day, many showed their respect by posting various salutes to the cryptocurrency that started it all.
Essen, Germany
celebrating #Bitcoin Genesis Day
&
sound money#gesundesgeld pic.twitter.com/3Ol5E2QdSZ— The Bitcoin ambassador (@elbitcoinamb) January 3, 2023
While many celebrated the day by posting greetings, some tipped their hats to the creator of Bitcoin by sending small amounts of BTC to Satoshi’s wallet address. As of January 3, there are several small transactions that send BTC to the wallet. However, since its inception, people have randomly sent Bitcoin to the account, bringing its total balance to 68.56 BTC, which is worth $1.1 million, at press time.
In addition to sending BTC to the Genesis block wallet, bitcoiners have created several 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 assets. The move divided the crypto community, with some pointing out concerns about an entity holding a large amount of BTC.
In other news, a tax lawyer recently highlighted Microstrategy’s intention to reduce capital gains in a fiscal year by selling BTC at a loss. International tax lawyer and CPA Selva Ozelli told Cointelegraph that, at the moment, there is no specific cryptocurrency wash-sell rule that prohibits selling at a loss and buying back within 30 days.
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