As Bitcoin (BTC) marks 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 its 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. 14 years later, many show their respect by posting various salutes 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
Some pay tribute to the Bitcoin creator by sending small amounts of BTC to their wallet address. Since its inception, many people have randomly sent bitcoin to the account, bringing its total balance to 68.56 BTC, which was worth $1.1 million at the time of writing.
Bitcoiners have shared various messages including a video showing the newspaper with 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 such a large amount of BTC.
Related: Bitcoin volatility could return in 2023 to catch up with gold
In other news, tax attorney and CPA Selva Ozelli recently highlighted MicroStrategy’s intent to reduce capital gains in the tax year by selling BTC at a loss. Ozelli told Cointelegraph that there is currently no crypto-specific wash sale rule that prohibits selling at a loss and repurchasing within 30 days.
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