More

    Is Bitcoin's Satoshi Nakamoto Already One of the Richest Individuals on Earth?

    Satoshi Nakamoto is one of the most popular figures in the crypto space, even when nobody knows who he really is. He is the creator of Bitcoin (BTC), the largest cryptocurrency in the market.

    When he created Bitcoin, he left a large sum of Bitcoin for himself, which some estimate that could be close to 980,000 Bitcoins. But how much money in virtual currencies does Satoshi Nakamoto really have?

    Is Satoshi The Richest Individual In The World?

    As we said before, he has 980,000 BTC, but he also has the same amount of Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Gold (BTG), among others. Nevertheless, after 10 years since Bitcoin’s launch, nobody knows who he really is.

    Satoshi Nakamoto has different cryptocurrency wallets. However, one that we know it’s his wallet is this one: 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

    There are several individuals that are suspected to be Satoshi Nakamoto. One of them is Hal Finney, a cypherpunk that was also involved in cryptography before working on Bitcoin. He was one of the individuals on the mailing list that received Bitcoin’s whitepaper. He has also sent several messages to Satoshi to discuss several issues and improve Bitcoin.

    Satoshi Nakamoto has also selected him to receive the first-ever Bitcoin transaction in the space, that was sent by Satoshi himself. Hal passed away back in August 2014 due to Low Gehrig’s disease.

    Another possible Bitcoin creator is Nick Szabo, also a cryptographer and cypherpunk as Hal Finney. Before Bitcoin, Szabo published a platform called “BitGold,” an e-currency, with some technical limitations, that was similar in some ways to Bitcoin. There are some enthusiasts that believe that Szabo launched Bitcoin a few years later.

    Adam Back is another possibility. He started studying computers and cryptography and developed the hashcash concept in 1997. This was an early application of Proof of Work (PoW), which allows users to link Mr. Back with Nakamoto.

    Back is currently working as the CEO of Blockstream, a company that produces blockchain solutions for institutions and companies. The firm provides funds to Bitcoin core developers as well.

    The reason why Satoshi Nakamoto has so many Bitcoin is due to the fact he was the first Bitcoin miner and mined for a large period of time. At that time, the block reward was capped at 50 BTC, while now, each block gives a reward of 12.5 BTC. In the near future, Bitcoin is going to experience a new halvening that will reduce the new issuance of Bitcoin to 6.25 BTC per block.

    There are different reasons why Satoshi Nakamoto does not want to spend his Bitcoin. Indeed, since 2011, he stopped moving them. Satoshi Nakamoto could just have passed away and this is the reason why he is not using his BTC. Maybe, he is not using them because he is afraid of a panic reaction or because he might not want to spend them too early.

    At the time Bitcoin was being traded close to $20,000, he had a net worth of $21 billion, becoming one of the richest individuals alive. In the future, if the market starts a new bull run, he could have even a larger sum of money.

    Until now, there are no clues regarding Satoshi Nakamoto or who he really is. However, he had the possibility to change the world and create a virtual currency that is growing day after day.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Carl T
    Carl T
    Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,351FansLike
    2,770FollowersFollow
    4,133FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Bitwise Plans To Target Retail Investors With Its Crypto Index Fund

    Bitwise has revealed that plans are underway to allow the retail market to participate in its large-cap index service. According to CoinDesk, Bitwise is working...

    Binance's Educational Platform Opens Up Government Approved Office in Shanghai

    Binance, one of the most popular crypto exchanges in the crypto-verse which also has many subsidiaries including Binance Academy (a blockchain and crypto-centred educational...

    XRP Trying to Retrace Months of Underperformance But Remains in a “Corrective” Structure

    XRP is up 12.5% but could still jump another 23%, A clean break above $0.21 would be “very bullish” Ripple granted an exemption...

    23k BTC on CME Futures and 50k BTC in Options Expiring Today

    Bitcoin is currently down 0.05% in the past 24 hours trading around $6,640 after hitting $6,872 last night, yet again rejected at $7,000 level....

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.