A rare satoshi, known as an “epic sat,” the smallest unit of Bitcoin, has fetched a whopping 33.3 BTC over $2 million, in a recent auction hosted by CoinEx Global. This particular satoshi is not only a rare collectible but also a major feat in the crypto sphere as it originated from the fourth Bitcoin halving block mined on April 20. Here, mining rewards are reduced approximately every four years, playing a crucial role in upholding Bitcoin’s scarcity and value.
The anonymous bidder was among the 34 bids to secure the satoshi for the record price in the auction. Known only by its “sat number 1,968,750,000,000,000,” the satoshi in question, is one of only four such “epic sats” in existence, each mined during one of the Bitcoin network’s halving events.
As per on-chain data, the sale occurred five days after the satoshi was mined by viaBTC, a partner of CoinEx, in block 840,000. In return for its mining services, viaBTC received a block subsidy of 3.125 BTC and an impressive 37.6 BTC in reward fees. Such substantial rewards underscore the significant financial stakes and interest revolving around Bitcoin mining and trading.
CoinEx’s successful auction highlights the growing popularity of unique digital items within the cryptocurrency ecosystem. In an industry where the smallest unit of Bitcoin—a satoshi—is typically valued at just $0.00065, the sale price of this particular satoshi illustrates the premium collectors are willing to pay for notable and historic digital assets.
Bitcoin’s Dual Role
Furthermore, this event has spurred discussions about the evolving nature of Bitcoin’s role both as a currency and a collectible. Often the reactions are mixed as BTC purists see these “as only speculative activities” devoid of any real use case, while others feel that these have opened new avenues for collectors and investors alike.
As the next halving event approaches in 2028, with the mining reward set to reduce to 1.5625 BTC, the cryptocurrency community is keenly watching how these dynamics will influence Bitcoin’s valuation and the broader digital asset market. This auction not only reflects the high collectible value of unique blockchain elements but also marks a growing recognition of cryptocurrency in mainstream financial conversations.