Bitcoin News Today: Lugano Recovers Vandalized Satoshi Nakamoto Statue From Lake

Lugano municipal workers have recovered the vandalized bronze statue of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, which was stolen and thrown into Lake Lugano earlier this year. The 2.5-meter artwork, created by Italian artist Valentina Picozzi and installed in October 2024, was found in pieces along the riverbank and in the lake. The act is believed to have been deliberate, with only the feet of the statue still attached to its base. The recovery has reignited discussions on the symbolic significance of crypto-related public art and the resilience of the Bitcoin community.

The theft and subsequent vandalism had prompted an outpouring of support from the crypto community. In response, the art collective Satoshigallery, which commissioned the installation, offered a 0.1 BTC bounty for information leading to the statue’s recovery. The reward, worth over $11,000 at the time, was a clear indication of the community’s determination to protect its cultural symbols. The collective reaffirmed its commitment to future installations, stating that the vandalism would not deter its global ambitions. “You can steal our symbol, but you will never be able to steal our souls,” the group declared, reflecting the emotional and ideological weight the statue carries for many in the space.

Public reactions to the incident have ranged from outrage to speculation. Gabor Gurbacs, founder and CEO of Pointsville, condemned the act as “tasteless and stupid” on social media. Others, including the pseudonymous advocate Grittoshi, suggested the vandalism could have been carried out by individuals intoxicated during Swiss National Day celebrations, though this remains unverified. The community has remained unified in its stance that the destruction of the statue does not diminish the legacy of Satoshi Nakamoto or the broader movement he symbolizes.

Despite the emotional impact, the event did not cause significant financial market movements. Bitcoin and other cryptocurrency prices remained stable during and after the incident. The absence of direct financial consequences highlights the symbolic rather than economic nature of the statue. However, the episode has underscored the challenges of maintaining public crypto-related art in public spaces. The collaboration between local authorities and the crypto community in retrieving the statue demonstrates the growing intersection between traditional governance and digital finance cultures.

The recovery also raises questions about the future of public crypto art. The incident may lead to increased scrutiny and innovation in protecting such installations, particularly in locations where they serve as focal points for the community. While the long-term financial implications are minimal, the cultural impact is clear. The statue represents a broader movement toward recognizing and celebrating the foundational principles of decentralized finance. Its retrieval is seen as a victory not just for Satoshigallery, but for the global Bitcoin community in its ongoing efforts to preserve and promote its ideals.

Source:

[1] Bitbo - https://bitbo.io/news/satoshi-statue-lugano-recovered/

[2] Brave New Coin - https://bravenewcoin.com/insights/vandalized-not-vanquished-satoshi-nakamoto-statue-fished-out-of-lake-lugano

[3] AInvest - https://www.ainvest.com/news/bitcoin-news-today-satoshi-nakamoto-statue-vandalized-lake-lugano-crypto-community-outcry-2508/

[4] Cointelegraph - https://cointelegraph.com/news/satoshi-nakamoto-statue-stolen-lugano-0-1-btc-reward

[5] CoinDesk - https://www.coindesk.com/markets/2025/08/03/where-is-satoshi-nakamoto-statue-honouring-the-bitcoin-creator-gets-stolen-in-lugano

[6] XT.com - https://www.xt.com/en/blog/post/iconic-satoshi-nakamoto-statue-recovered-by-lugano-municipality