A statue honouring the elusive creator of Bitcoin was recovered in pieces from Lake Lugano, the next day after it vanished without explanation from its original site in Switzerland.
The artwork, known for its illusion of vanishing from certain angles, had been removed from Parco Ciani—prompting speculation, frustration, and even a Bitcoin bounty.
Created by Italian artist Valentina Picozzi, the statue was far from ordinary.
Composed of vertical stripes of stainless steel and corten, it created an optical illusion — from certain angles, the figure of Bitcoin’s mysterious founder, Satoshi Nakamoto, seemed to disappear.
This design mirrored Nakamoto’s elusive identity and symbolised the anonymous origins of Bitcoin.
The statue was installed in October 2024 in Parco Ciani, Lugano, as part of the city’s ambitious Plan B initiative, backed by Tether and the local government to promote Bitcoin adoption.
As one of three such statues worldwide, the Lugano piece quickly became a focal point for the city’s image as a digital currency hub.
Mayor Michele Foletti had praised it as a symbol of innovation, representing a future where technology and finance intersect.
Reports first surfaced on 2 August 2025 when a social media user named Gritto raised concerns about the statue’s sudden absence.
He speculated that it might have been thrown into Lake Lugano, citing that the statue was only secured by two points at its base and suggesting that a group of drunk partygoers could have moved it unnoticed during Swiss National Day celebrations.
“There are cameras everywhere in the city so i assume, they just threw it inside the lake beside, before going home. No way, they could have carried it unnoticed in the city.”
The group behind the statue, Satoshigallery, reacted quickly by offering a reward of 0.1 BTC — worth roughly $11,300 — for information leading to its recovery.
Their message was clear and resolute:
“You can steal our symbol, but you will never be able to steal our souls.”
This incident stirred strong reactions across the digital currency community, with figures such as Adam Back, CEO of Blockstream, and Gabor Gurbacs, founder of Pointsville, expressing disappointment and calling for those responsible to be found.
Despite this setback, Satoshigallery reaffirmed their commitment to installing similar statues across 21 cities worldwide
Just as Gritto had predicted, Municipal workers eventually located the statue in Lake Lugano, broken into several pieces, confirming suspicions that vandalism was the cause rather than theft for profit.
The base remained intact in the park, but the statue itself suffered damage beyond simple removal.
Tether CEO Paolo Ardoino acknowledged the recovery with a simple heart emoji on social media.
Beyond its artistic value, the statue symbolised the spirit of decentralisation and mystery that surrounds Bitcoin’s creator.
It had become a tangible expression of a digital revolution, inspiring enthusiasts around the world.
Following Lugano’s statue, others have been placed in cities like Tokyo and El Zonte, El Salvador, each serving as landmarks of Bitcoin’s growing global footprint.
Though the statue was damaged and recovered, the ideas it embodied — innovation, anonymity, and decentralisation — continue to resonate in Lugano and around the world.
The community’s drive to celebrate Bitcoin’s origins remains intact.
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