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.