Satoshi Nakamoto Is Now the 23rd Richest in the World

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Bitcoin
Satoshi Nakamoto Is Now the 23rd Richest in the World

At spot Bitcoin rates of above $34.5k, Satoshi Nakamoto, the mysterious founder, and master HODLER is now the 23rd richest ahead of Beate Heister and Karl Abrecht Jr., and on-course of surpassing Jeff Bezos’ former wife, Mackenzie Scott–worth $36 billion, according to Forbes.

Satoshi is worth $34.16 Billion

With an estimated unrealized worth of $34.16 billion as of Jan 3, 2021, Satoshi’s wealth signifies the virtue of patience and belief in a project.

Innovating and launching a new layer that’s now worth $600 billion and graduating earlier adopters to the millionaire and billionaire categories, Bitcoin is a network that indeed represents community and decentralized success.

The Bitcoin founder is, despite this success, remains in the shadows. His one million BTC stash remains untouched but closely monitored by the crypto community.

Unlike other early wallets where coins have been moved from time to time as the layer is improved, making it better for users, Satoshi’s stash remains static for 12 years now.

Bitcoin Price Gyration

With Bitcoin rallying to new all-time highs on its 12th anniversary, it must also be noted that the network has faced its fair share of challenges.

Roughly three weeks after breaking above $20k and adding another $14.5k, platform users must not forget that at one point the network was on the brink of collapse.

Following what was a “hot” 2017, the BTC/USD price plunged to $3.2k, cratering from near $20k reached in late 2017.

Overly, analysts say falling prices tempered the network, providing more regulatory clarity, weeded out speculators, and thrust Bitcoin to the limelight.

Coronavirus Pandemic Triggered Institutions

The recovery in 2019–coupled with halving and the coronavirus pandemic in 2020 were enough to cement Bitcoin as an alternative to gold.

BTC is also said to be a better, censorship-resistant Medium of Exchange (MoE) currency that could supplement and even compete with the USD in territories whose economies are in tatters.

As such, the influx of institutions in the second half of 2020, retail investors’ desirous of an alternative to traditional instruments, and the legitimization of crypto by Iran are precursors of what lies ahead.

While Satoshi’s stash propels the founder higher on the billionaire leaderboard, the surge of Bitcoin might just be the beginning of a financial revolution that may push the digital gold price even higher.

As BTCManager reported, Anthony Scaramucci’s SkyBridge Capital invested $180 million in Bitcoin, joining a growing list of firms sinking millions in crypto.

Dalmas Ngetich

Dalmas is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.