An incredibly rare satoshi, known as an “epic sat,” was recently sold for a whopping 33.3 Bitcoin (BTC), equivalent to approximately $2.13 million. This satoshi, which is the smallest unit of Bitcoin, was mined from the fourth Bitcoin halving block. The sale took place on the cryptocurrency exchange CoinEx Global on April 25, about five days after it was mined by Bitcoin mining pool viaBTC in block 840,000 on April 20. The auction attracted 34 bids, with the winning bidder acquiring ownership rights to the epic sat with the unique identifier “sat number 1,968,750,000,000,000.” The runner-up bid was 20 Bitcoin for the rare sat.
CoinEx announced the successful conclusion of the auction, highlighting the significance of this event for the Bitcoin community and its growing recognition and acceptance by the media. An epic sat refers to the first satoshi mined in the first new Bitcoin halving block. Since there have been four halvings, only four of these rare sats exist. Each of these sats is assigned a unique sequence number based on mining timestamps using the Ordinals number system. Currently, the value of an ordinary satoshi is $0.00065 as one Bitcoin contains one hundred million sats. Certain sats, like the epic sat, hold greater collectible value due to their uniqueness and scarcity resulting from periodic events within the Bitcoin network.
Bitcoin Ordinals explorers such as Ordiscan and OrdinalHub can be utilized to determine if a Bitcoin wallet holds a rare sat by verifying the specific UTXO and output number. Once confirmed, users can transfer their rare sat to an Ordinals-supported wallet for safekeeping. In the case of the fourth halving block, viaBTC mined it at 12:09 am UTC on April 20, receiving a new block subsidy of 3.125 Bitcoin along with an impressive 37.6 Bitcoin in reward fees, valued at $2.4 million at that time. The next Bitcoin halving is predicted to occur around 2028 at block 1,050,000, causing mining rewards to be halved to 1.5625 Bitcoin.
Instead of wasting millions on a tiny satoshi, why not donate that money to those in need? It’s pure selfishness! 😡
This just goes to show how inflated the cryptocurrency market has become. Ridiculous!