Rare Sats – Bloomberg

“In the same way a dollar is made up of 100 cents, one bitcoin is composed of 100 million satoshis—or sats, for short. But not all sats are made equal. Those produced in the year bitcoin was created are considered vintage, like a fine wine. Other coveted sats were part of transactions made by bitcoin’s inventor. Some correspond with a particular transaction milestone. These and various other properties make some sats more scarce than others—and therefore more valuable. The very rarest can sell for tens of millions of times their face value; in April, a single sat, normally worth $0.0006, sold for $2.1 million.”

There are two interesting points here. One is simply the existence of “rare sats”: To at least some … Bitcoin collectors? … some satoshis are worth more than others, due to their history or provenance.

The other is that, while some Bitcoin enthusiasts value rare sats highly and will pay a lot for them, others just cheerily assume that Bitcoin is a fungible currency. And so there is a trade….

Source: Rare Sats – Bloomberg