New Analysis Shows That Satoshi May Actually Own Over 1.1 Million Bitcoin, Worth Over $10 Billion
Quick Read
- Bitcoin’s founder, Satoshi Nakamoto, may actually own 1,125,150 Bitcoin worth over $10 billion.
- Satoshi was one of Bitcoin’s early miners following the cryptocurrency’s release over a decade ago.
A new analysis by crypto analytics firm Whale Alert, estimates that Satoshi Nakamoto owns 1,125,150 Bitcoin, worth over $10 billion. Satoshi Nakamoto is the anonymous founder of the largest cryptocurrency by market cap, Bitcoin.
It is common knowledge that Satoshi holds a massive Bitcoin stash. However, the exact size of his stash has been up for debate. For example, a report by BitMEX Research dating back to August 2018, estimates Satoshi mined approximately 700,000 Bitcoin.
Bitcoin Back Then
While Satoshi may hold over a million Bitcoin, the cryptocurrency wasn’t worth much when Satoshi mined it. As reported previously by The Crypto Associate, the first trade on Mt.Gox in July 2010 valued Bitcoin at under $0.05 a coin.
Furthermore, Bitcoin is also notorious for its volatility. The cryptocurrency has experienced several crashes in its relatively young life. The most recent crash on March 12th, 2020 in an event later dubbed as “Black Thursday”, Bitcoin crashed over 40% within 24 hours. While the cryptocurrency has recovered significantly, it is still ways from its all-time high of $20,000.
Cover image by Tim Evans on Unsplash
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