Satoshi Nakamoto, the creator of Bitcoin, remains one of the greatest mysteries in the worlds of technology and finance. Not only did Satoshi initiate a revolution in decentralized currency, but their true identity remains shrouded in secrecy. Let us delve into the journey and legacy of this legendary figure.
1. Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonym used by the individual or group responsible for creating Bitcoin—the world’s first cryptocurrency. The true identity of Satoshi remains one of the most intriguing enigmas in technological history. It is still unclear whether Satoshi is a single person or a collective. Furthermore, the question of whether Satoshi is still alive remains unanswered. If alive, they have demonstrated remarkable restraint by not utilizing even a fraction of the Bitcoin fortune worth billions of dollars they control.
Satoshi Nakamoto first emerged in 2008 with the release of the Bitcoin Whitepaper, a document that laid the foundation for the creation of this groundbreaking digital currency. On January 3, 2009, the Bitcoin network officially launched as Satoshi mined the Genesis Block on the Bitcoin blockchain. In its early stages, Satoshi actively participated in mining Bitcoin, accumulating a substantial amount of BTC rewards—an account now estimated to hold billions of dollars.
From 2009 to 2010, Satoshi Nakamoto frequently interacted with the community through online forums like BitcoinTalk, engaging in discussions and answering questions about Bitcoin. However, in December 2010, Satoshi made their final public post. By April 2011, they sent an email to Bitcoin developers, stating that they would no longer be involved in the project. Since then, Satoshi has completely disappeared from public view.
Though absent for over a decade, Satoshi’s legacy remains embedded in every Bitcoin transaction made today. Each Bitcoin (BTC) can be divided into 100 million smaller units called satoshis, often abbreviated as sats. This naming convention serves as a tribute to the enigmatic founder.
2. How many Bitcoins does Satoshi Nakamoto have?
Satoshi Nakamoto, who is considered the creator of Bitcoin, accumulated a massive amount of BTC in the early days of mining. While the exact number of BTC mined by Satoshi cannot be determined, the widely accepted assumption is that this individual mined approximately 1.1 million BTC.
This figure was estimated by Sergio Demian Lerner, a developer and cryptocurrency expert. Lerner discovered the “Patoshi” pattern in the first Bitcoin blocks, which he analyzed to estimate the amount of BTC mined. According to this pattern, Satoshi accumulated around 1.1 million BTC, accounting for approximately 5.6% of the total circulating Bitcoin supply.
During that period, Satoshi mined Bitcoin before the first halving event occurred. At that time, the block reward was 50 BTC per block, and the Bitcoin network had not yet attracted many miners. Thanks to this, Satoshi had the opportunity to mine a large amount of Bitcoin.
3. What is Satoshi Nakamoto’s Bitcoin address?
Each Bitcoin block that Satoshi mined was sent to a separate address. It is estimated that there are more than 20,000 different addresses holding Satoshi’s Bitcoin. Among these, the address receiving the reward from the genesis block is considered the most famous. However, the 50 BTC awarded to the genesis block cannot be spent.
What’s remarkable is that Bitcoin users occasionally send BTC to the genesis address as a tribute to Satoshi. To date, around 18.57 BTC has been sent to this address, in addition to the original 50 BTC.
In addition to the genesis address, another famous address is the one Satoshi used to make the first Bitcoin transaction between two people. On January 12, 2009, Satoshi sent 10 BTC to Hal Finney, a software developer and one of the first Bitcoin users. This transaction address has become legendary in Bitcoin’s history.
Today, cryptocurrency market observers often monitor the Bitcoin blockchain to check if any transactions are made from wallets belonging to the “Satoshi era.” However, since Satoshi left the Bitcoin project, no BTC transactions have been convincingly attributed to him.
4. How does Satoshi’s net worth compare to other billionaires and Bitcoin whales?
If Satoshi Nakamoto’s net worth is estimated at around $73 billion, he would rank 23rd on Forbes’ real-time list of billionaires. In the cryptocurrency world, Satoshi is also considered the wealthiest individual, surpassing Changpeng “CZ” Zhao, the founder of Binance, whose net worth Bloomberg estimates at $30.5 billion.
Satoshi is currently regarded as the largest individual Bitcoin holder in the world, second only to institutions like Coinbase and Binance, which store Bitcoin on behalf of their customers. Below is a list of some notable Bitcoin “whales” and the amounts of BTC they hold:
- Coinbase: 2.3 million BTC
- Satoshi Nakamoto: 1.1 million BTC
- Binance: 636,000 BTC
- BlackRock: 357,000 BTC
- MicroStrategy: 252,000 BTC
- Grayscale: 224,000 BTC
- U.S. Government: 213,000 BTC
- Bitfinex: 192,500 BTC
(*Figures have been rounded for easier readability.)
Although Satoshi Nakamoto’s identity remains a mystery, his legacy has completely transformed how we perceive money and technology. The decentralized spirit he created continues to inspire future innovations. For the Bitcoin community, Satoshi is not just the creator of Bitcoin but also a symbol of visionary progress.
