Satoshi Statue Recovered in Lake Lugano After 0.1 BTC Reward
On August 4, city workers recovered the stolen Satoshi Nakamoto statue from Lake Lugano, one day after it was forcefully removed from its Parco Ciani pedestal. The faceless stainless steel sculpture, named “Disappearing Satoshi,” was unveiled at the Plan ₿ Forum in October 2024 and symbolizes Bitcoin’s anonymity and decentralization.
Satoshigallery offered a 0.1 BTC reward (≈ $12,000) for information leading to its retrieval. The artist collective has pledged to restore the damaged pieces. The incident exposed security gaps for public art in key digital finance hubs.
This statue is part of a global initiative to install 21 Satoshi Nakamoto statues, representing Bitcoin’s 21 million supply, in major cities. Lugano Mayor Michele Foletti said the recovery reinforces the city’s blockchain identity and celebrates Bitcoin culture.
Neutral
While the recovery of the Satoshi Nakamoto statue underscores Lugano’s commitment to Bitcoin culture and may bolster long-term adoption sentiment, the incident is unlikely to significantly affect BTC’s short-term price. Theft and reward announcements mainly attract media attention and reinforce positive narratives around blockchain identity, but they do not alter market fundamentals or supply dynamics. Traders may see a brief uptick in on-chain discussions, but overall impact on Bitcoin’s price is expected to be neutral.