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Satoshi Nakamoto: What is the fortune of the inventor of bitcoin?

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Satoshi Nakamoto: What is the fortune of the inventor of bitcoin?
Written by madishthestylebar

Due to the massive growth of bitcoin, Satoshi Nakamoto is now among the 100 richest people on the planet. However, it seems that Satoshi Nakamoto never sold any of his bitcoins, and it’s not even known if he’s even still alive.

We’ll briefly look at Satoshi’s involvement in the Bitcoin project, explain how he amassed his BTC hoard, and compare his wealth to that of other billionaires and famous crypto whales.

Who is Satoshi Nakamoto?

Satoshi Nakamoto is the pseudonym used by the creator of bitcoin. So little is known about Satoshi’s true identity that it’s not even known if the name refers to a person or a group of people. In fact, we don’t even know if Satoshi is still alive – if he is, he’s shown great restraint by not cashing in even a small portion of his multi-billion dollar bitcoin stash.

Satoshi Nakamoto published the Bitcoin whitepaper in 2008, and the Bitcoin network itself was launched on January 3, 2009. Satoshi mined the first block of the Bitcoin blockchain, also known as the genesis block. He continued mining for some time after the launch of Bitcoin, earning large amounts of BTC rewards.

For some time after Bitcoin’s release, Satoshi actively discussed his invention with interested participants on online platforms, including the BitcoinTalk forum. Satoshi’s last public communication was in December 2010. In April 2011, Satoshi clarified that he was no longer working on Bitcoin through email correspondences with Bitcoin developers.

Even though Satoshi hasn’t been involved in the Bitcoin project for over a decade, Bitcoin users remember his legacy daily. Indeed, each BTC coin can be divided into 100 million units, called satoshis. Bitcoin users often use the abbreviation “sats” to refer to satoshis.

Many scholars and journalists have analyzed the writings of Satoshi Nakamoto in an attempt to determine his true identity. However, no conclusive evidence has been found to link Satoshi Nakamoto to an actual identity. Of course, many people have been singled out as potential candidates for Satoshi Nakamoto, most commonly Adam Back, Nick Szabo, and Hal Finney.

Some people, including Craig Wright, have actively claimed to be Satoshi Nakamoto. However, their claims have been widely dismissed by the community, as no self-proclaimed Satoshi has been able to conclusively prove that he was indeed the inventor of Bitcoin.

The Satoshi Nakamoto fortune in 2023? Bitcoin Founder’s Cryptocurrency Wallets Review

The researchers have provided fairly reliable estimates of how much BTC Satoshi has, which allows us to estimate his net worth. As of January 2023, Satoshi Nakamoto’s net worth is around $18.5 billion. When bitcoin was at its peak price in November 2021, Satoshi Nakamoto’s fortune was around $75.6 billion.

How many bitcoins does Satoshi Nakamoto have?

As already mentioned, Satoshi amassed a large number of BTC through mining in the early days of Bitcoin. Although we cannot know exactly how many BTC Satoshi was able to mine, the commonly accepted estimate is that he mined around 1.1 million BTC.

This is the estimate provided by developer and cryptocurrency expert Sergio Demian Lerner, who discovered Satoshi’s cryptocurrency system. “Patoshi in the first blocks of Bitcoin. Lerner was able to estimate the number of blocks that were mined by Satoshi, so it’s also possible to estimate how many bitcoins Satoshi owns – around 1.1 million coins. This represents approximately 5.2% of the circulating bitcoin supply.

Satoshi Nakamoto was mining bitcoin before the first bitcoin halving, when the block reward was 50 BTC. This, combined with the fact that there weren’t many other active miners on the network, allowed him to earn a truly massive amount of BTC.

What is Satoshi Nakamoto’s bitcoin address?

Each of the block rewards earned by Satoshi was sent to a different address. Therefore, there are over 20,000 different addresses holding Satoshi’s bitcoins. The most famous is of course the address that received the Bitcoin genesis block reward. Interestingly, the 50 BTC that was allocated for the genesis block is non-spendable.

Satoshi Nakamoto's bitcoin wallet

From time to time, bitcoin users send BTC to this “genesis address” in tribute to Satoshi. A total of around 18.57 BTC has been sent to this address so far, in addition to the 50 BTC reward from the genesis block.

Another notable address belonging to Satoshi is the one he used to perform the very first Bitcoin transaction between two users. On January 12, 2009, Satoshi sent 10 BTC to Hal Finney, a software developer who was an early adopter of bitcoin.

Cryptocurrency market watchers monitor the bitcoin blockchain to see if transactions are being sent from wallets that were active for “the Satoshi era“. However, there has not been a single BTC transaction since Satoshi left the Bitcoin project that can be conclusively attributed to him.

How does Satoshi’s fortune compare to that of other Bitcoin billionaires and whales?

If we assume that Satoshi Nakamoto’s fortune is $18.5 billion, he would be the 86th richest person in the world according to Forbes real-time billionaire ranking. He would also likely be the richest person in the crypto world, ahead of Binance CEO Changpeng.”CZ“Zhao. The Bloomberg Billionaires Index estimates CZ’s fortune at $12.3 billion. Others

Satoshi is also probably the largest bitcoin holder in the world. Here is how much bitcoin is held by some of the most notable bitcoin “whales”:

  • Satoshi Nakamoto: 1.1 million BTC
  • Grayscale Bitcoin Trust: 631,000 BTC
  • Binance: 521,000 BTC
  • Coinbase: 483,000 BTC
  • Bitfinex: 353,000 BTC
  • MicroStrategy: 132,500 BTC

*Numbers are rounded for better readability. Data as of January 4, 2023.

The main thing: despite his enormous fortune, Satoshi does not touch his BTC.

Satoshi’s 1.1 million BTC stash makes him one of the 100 richest people on the planet, but he seems content to sit on his pile of digital coins. The fact that Satoshi hasn’t moved any BTC coins for over ten years is one of the main reasons why many people think he’s dead.

Others claim that if Satoshi does not sell or spend his bitcoins, it is simply because he does not care about his personal wealth and wants to remain anonymous. Whatever the real reason, we can always be grateful to Satoshi for his brilliant invention!

If you are interested in the net worth of other famous cryptocurrency founders, check out our articles analyzing the wealth of TRON founder Justin Sun and Ethereum founder Vitalik Buterin.

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#Satoshi #Nakamoto #fortune #inventor #bitcoin

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