Satoshi Nakamoto is a person or group of people who reportedly created the Bitcoin cryptocurrency in 2009. Little is known about them, but it is estimated that Satoshi Nakamoto could have a net worth of up to $19 billion.
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Biography
Satoshi Nakamoto is the anonymous creator of Bitcoin, the best-known decentralized cryptocurrency. It is unknown whether the name Satoshi Nakamoto is real or a pseudonym, or whether the name represents one person or a group of people. There are many theories as to who Satoshi Nakamoto might be, but to this day it remains a mystery.
Satoshi Nakamoto authored the Bitcoin whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” and released it in 2008 under his/her/their name. In addition, Satoshi Nakamoto mined the first block of the Bitcoin network in January 2009—called the Genesis Block—which marked Bitcoin’s launch.
| Aspect | Details |
|---|---|
| Name | Satoshi Nakamoto |
| Identity | Unknown (individual or group) |
| Contribution | Creator of Bitcoin and author of the Bitcoin whitepaper |
| Launch Date | Bitcoin launched on January 3, 2009 (Genesis Block mined) |
| Net Worth | Estimated ~1 million BTC (Worth $30B at $30,000 BTC price; $69B at Bitcoin’s all-time high) |
| Wallet | Holds ~1 million Bitcoins in early-mined wallets; untouched since creation |
| Disappearance | Satoshi ceased communication in 2011, leaving Bitcoin development to the community |
| Statue | Bronze statue in Budapest, Hungary, with a reflective face representing anonymity (unveiled 2021) |
| Whitepaper | Published in 2008, titled Bitcoin: A Peer-to-Peer Electronic Cash System |
| First Block | Genesis Block (Block 0), which contains the message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” |
| Influence | Pioneer of blockchain technology; inspired thousands of cryptocurrencies and blockchain projects |
Net Worth
Satoshi Nakamoto is believed to have 1 million bitcoins, which he mined early on. His net worth fluctuates massively based on Bitcoin and the price of Bitcoin, for example:
- At a Bitcoin price of $30,000, Satoshi’s net worth would be $30 billion
- At Bitcoin’s all-time high of ~$69,000, Satoshi’s holdings were worth $69 billion, making Satoshi one of the richest people (or entities) in the world.
Wallet
Satoshi’s Bitcoin holdings are spread across wallets thought to be associated with the creator. Analysts have identified these wallets based on early mining and the block chain data. No one has been able to access these wallets, and no coins have ever moved from these addresses in all the years since Bitcoin was created anonymously by Satoshi.
The statue was made by Hungarian sculptors Réka Gergely and Tamás Gilly for a park in Budapest, Hungary, in 2021. The statue is made of bronze with a reflective face to represent anonymity, reflecting the concept that “we are all Satoshi” and referring to the collaborative nature and decentralized ethos upon which Bitcoin was built.
Facts
- Disappearance: Satoshi stopped communicating with the Bitcoin community in 2011, leaving the project in the hands of developers like Gavin Andresen.
- Influence: The invention of Bitcoin led to the creation of thousands of other cryptocurrencies and an entirely new industry known as blockchain that is fundamentally changing finance and technology.
- Theories: Suspected guesses for who Satoshi might actually be include Nick Szabo, Hal Finney, and Dorian Nakamoto, but no real evidence has ever been given to support any of these claims.
Why is Satoshi’s 1 million Bitcoins important?
Satoshi’s Bitcoin holdings are also of importance simply because they could have a material impact on the Bitcoin market, where those Bitcoins are ever to be moved or sold. The reason being that 1 million Bitcoins equate to nearly ~5% of the entire supply (21 million), and such liquidity, not to mention the uncertainty associated with such a significant amount for sale by its unknown owner(s), would most likely lead to a falling Bitcoin price, at least initially.
Frequently Asked Questions
Has Satoshi Nakamoto ever sold any bitcoin?
No, there is no evidence whether Satoshi Nakamoto has ever sold or moved Bitcoin from their original wallets.
Why did Satoshi Nakamoto disappear?
There were many reasons why Satoshi Nakamoto likely disappeared: to protect his or her identity, not be seen as the leader of something new and dangerous (Bitcoin), legal, and/or political risks with rising success.
