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If you’re even remotely familiar with the crypto space, chances are you’ve heard this person’s name. Yes, that’s right, Satoshi Nakamoto is one of the biggest names of the crypto industry and the creator of the first digital cryptocurrency, Bitcoin.
But that’s not all he is.
Making the common assumption that Satoshi Nakamoto is an individual and a man, we can safely say that he is also one of the richest people in the world. Especially since his prized creation has been making bigger waves than most things these days. We say this considering Bitcoin’s latest bull runs on the crypto market, which saw its value touch an ATH of $62,000.
So, assuming he’s still alive and still owns as much Bitcoin as, again, we assume he does—What is Satoshi Nakamoto’s net worth in 2021?
Satoshi Nakamoto: Personal life
Actually, there’s not really much that we know. We know he created Bitcoin, the first decentralized cryptocurrency, but that’s pretty much it. If you think of it, it’s pretty crazy that while living in the sort of world we live in, we can’t figure out who such a mainstream person is. Despite being the first-mover in a trillion-dollar industry, Nakamoto remains pseudonymous.
In Japanese culture, Satoshi is generally a given name for men, which is why the general assumption is that a mysterious creator is a Japanese man. However, it could just as well be an organization, which works under the name Satoshi Nakamoto (which is a fully plausible theory, considering that some translations define it as “Clear Thinking”, which could be the group’s ideology).
He could also be a woman, for all we know, but let’s just stick to the male pronoun for the sake of simplicity.
How do we calculate Satoshi Nakamoto net worth?
Dead end. How do we figure out how rich Satoshi Nakamoto is if we don’t even know his real identity? Or if he’s still alive or dead?
Some analysts still stepped up to the challenge. Sergio Demian Lerner, the designer of RSK, started snooping around a bit in 2013 and with the help of some deductive reasoning reached a rough conclusion. His answer, which has since then been supported by other researchers, was a pretty high number.
Sergio based his initial assumption on the fact that throughout 2009, the Bitcoin mining hashrate stayed up to a very low level. This gave more weight to the theory that Nakamoto was the only one mining Bitcoin through that year. With this information, we may be able to figure out how much Bitcoin he mined that year and possibly kept for himself.
To get a better understanding of how little hashpower 7 million hash per second entails, look at the amount of computing power dedicated to Bitcoin mining right now. As of now, miners contribute as much as 1.2e+18 hashes per second. That’s 12 million with another 12 zeroes on the end.
Also, the fact that Bitcoin’s hashrate was the same since the beginning, confirms this as well.
What did Satoshi Nakamoto do with his Bitcoin?
Following this research, Sergio probed further to reconfirm whether Satoshi Nakamoto was in fact the dominant miner in 2009, and if so, what did he do with his Bitcoin?
The answer is simple: he held on to it.
Sergio conducted a compelling technical analysis as to why Satoshi probably was the dominant miner in 2009. He also looked at what wallets he was using at the time. His analysis, which has been picked up by other researchers since then, indicates around 1 million BTC exists in wallets belonging to the dominant 2009 miner, who is most likely Satoshi Nakamoto.
Other than this, Satoshi also sent some of the mined Bitcoin to other people. Of note, Satoshi made the first-ever transaction of Bitcoin when he sent 50 BTC to the now deceased, Hal Finney. 50 BTC at today’s prices would be valued at around $1.7 million.
How rich does owning 1 million BTC make you?
As we are hoping to investigate Satoshi Nakamoto’s net worth, this question is extremely important to us. How rich does owning 1 million BTC make you?
The short answer is: very rich.
Taking into consideration only and only Bitcoin, no other coins such as Bitcoin Cash or any altcoins obtained through forks, Satoshi Nakamoto net worth with a wealth of 1 million BTC is huge. The fact that the man (or woman, or group) is a billionaire is obvious. At the time of writing, Bitcoin is priced around $33,262. Now imagine owning a million BTC at once.
Does this make Satoshi Nakamoto the richest person in the world?
Surprisingly, not yet. Assuming that Satoshi is in fact a single person, he is still pretty beat by the likes of French Businessman Bernard Arnault and Jeff Bezos. Their net worth is around $186.3 and $186 billion respectively.
By a rough estimate, if Bitcoin reaches an ATH of around $187,000 per coin, Nakamoto will no doubt become the richest man in the world. He will have a net worth of above $187 billion. Although it may not seem so when reading it the first time, a price of $187,000 is a completely reasonable estimate for Bitcoin’s growing value. In fact, recall when BTC soared to ATHs of $62,000 in mid-April. Crypto analysts then were quick to give predictions of the coin reaching $100,000 soon. As per this growth estimate, a price rise to $187,000 is very much achievable in the next five years.
As a result, Satoshi Nakamoto’s net worth will become the highest in the world.
Let’s also not forget that just a year ago, Bitcoin’s value was at $9,243. Its price right now, $33,262 shows more than 300% growth since then. If Bitcoin can do that in a year, what’s to say we won’t see Satoshi Nakamoto taking the crown of the richest man in the world anytime soon?
With this calculation, Satoshi Nakamoto’s net worth will definitely become the highest in the world in the near future.
Where is Satoshi Nakamoto now?
As with answers to most questions about the enigmatic man, we don’t really know. Just like we don’t know his name, we don’t know Nakamoto’s geographic location, age, and ethnicity. Important questions like was he a young developer? Did he just happen to hit a lucky stoke with Bitcoin? Is Bitcoin the work of his entire life? Did he develop and perfect Bitcoin for years? All of these remain a mystery. He could even be dead.
Still, recently, news broke out about movement in two dormant Bitcoin wallets after a whole decade. The event caused a huge commotion within the crypto community, with them thinking that maybe Satoshi is active again. The fact that both wallets moved BTC to the same address also added to the excitement.
Keeping in mind the analysis we’ve attempted to achieve here, the conclusion still seems a little hazy. For one, we still don’t know how much Bitcoin Satoshi owns to have an exact idea about his net worth. Still, it’s likely that we’ve reached a probable consensus. Making the grand assumption that as of right now he owns 1 million bitcoins, Satoshi Nakamoto’s net worth is around $33,262,000,000 or approximately $33 billion.