Bitcoin founder Satoshi Nakamoto’s holdings have reportedly lost nearly $5 billion in value.
Summary
- Satoshi’s Bitcoin holdings decreased by nearly $5 billion in just one day
- The Bitcoin creator has not moved any satoshis in over 15 years
A correction in the crypto market has erased billions in market capitalization, impacting even its largest holder. On Thursday, October 30, Satoshi Nakamoto’s Bitcoin holdings have reportedly seen a decrease of almost $5 billion.
Even though the Bitcoin (BTC) founder has not transferred any funds from the numerous wallets attributed to him, their value still dipped. The fiat valuation of these holdings reportedly fell to $117 billion, according to Arkam Intelligence data.
Satoshi Nakamoto is estimated to control approximately 1.1 million BTC, distributed across thousands of wallets that have remained inactive for over a decade. At the height of Bitcoin’s recent surge, these holdings were valued at over $122 billion.
Satoshi remains the largest holder of Bitcoin by a considerable margin
Old Bitcoin wallets play a significant role in Bitcoin’s pricing and scarcity. Current estimates indicate that between 3 to 4 million BTC are permanently lost due to owners losing access to their wallets. This constitutes roughly 14% to 19% of the total capped supply of 21 million.
Among these lost bitcoins, Satoshi’s holdings are by far the largest. Despite the recent price decline, he is still the foremost individual holder of BTC, representing more than 5% of the current supply. The second largest holder is Michael Saylor’s Strategy, possessing 640,808 BTC, accounting for approximately 3% of the BTC supply.
Furthermore, on-chain data indicates that Satoshi has neither sold nor transferred any coins in the past 15 years during which he has been inactive. Should Satoshi decide to come back and start selling his BTC, the impact on Bitcoin’s price would likely be immediate and substantial.
