Would you get involved in a contest that boasted a $1 million bitcoin prize?
What Would You Do for $1M in BTC?
If so, you’d join a record 60,000 people that have already signed up. Contests and games utilizing cryptocurrencies are nothing new, but never has a prize been this heavy for crypto enthusiasts. Several investors and enthusiasts have gotten together to launch an international scavenger hunt they’re calling “Satoshi’s Treasure.” The idea is simple: find the missing $1 million in BTC, and you get to keep the money.
As press time, bitcoin has surged beyond the $7,000 mark. This is a 30 percent price gain in just one week. It also marks a new period for bitcoin, which had been suffering greatly as of late. Though most of 2018 was not kind to bitcoin, it can be argued that the final months of that year were the worst.
Following a controversial bitcoin cash hard fork that pitted many industry leaders against each other, bitcoin’s price fell from the $6,000 range down to $3,500. It remained here for approximately five months but started to swell in early April of 2019.
The first move took the cryptocurrency beyond $5,000, and the coin has been on a roll since. It has grown exponentially over the past few weeks and is now trading for its highest amount in approximately nine months.
Naturally, there is plenty of renewed interest in bitcoin and additional forms of crypto, so it’s no surprise that a contest like this has garnered such attention. It can be argued that a million in BTC could be as much as $1.5 million next week, granted bitcoin can keep up its present momentum.
One of the founders of the scavenger hunt is cryptocurrency trader Eric Meltzer. He states that no one, not even the game’s creators, know where all the clues lie regarding where the money is hidden. Players are required to locate all the clues before they can claim any financial prizes.
He states:
There are so many unknowns in this game that we kind of just want to see what happens. Part of the meta game that I think people are going to like is trying to figure out who is behind this.
Of course, this creates something of a conundrum. If the game’s founders aren’t familiar with all the clues, how does anyone know where the money is hidden? Is it lost? Does it even exist? How can someone know where the money is if they don’t have all the data upfront?
People Are Still Excited
It seems this little factoid isn’t detracting anyone from getting involved. Crypto investor Nic Carter later offered his sage words regarding the excitement the game has stirred, explaining:
I’d say Satoshi’s Treasure is so exciting because it’s the pure joy of a treasure hunt. It’s global, and anyone can participate.