Komal Joshi · Oct 30, 2020 . 5min read
Satoshi’s Bitcoin Holdings ranks him amongst the world’s top richest people
According to a recent research, Satoshi Nakamoto should have control of 1,125,150 bitcoins mined up to block 54,316 with an estimated total value of the unspent bitcoin of at least $10.9 billion USD.
By Victor Ugochukwu · Jul 21, 2020 . 9min read
Some call him a ghost while others extol him as the saviour of mankind. Some others even count him nothing other than a rebel who must be outed for creating an invention that challenges their hegemony. Whatever thought anyone has of him matters less, especially if his net worth as of today is considered. Satoshi’s Bitcoin holdings rank him among the world’s top richest people today.
The number of bitcoins held by Satoshi Nakamoto, the pseudonymous entity behind Bitcoin’s creation is always a subject of debate. While many say it is almost impossible to know the exact number of bitcoins Satoshi holds, one thing remains constant. Therefore it is the number of bitcoins that will ever be in circulation. There will only be 21 million bitcoins in circulation. That’s a definite fact nobody can change. The Bitcoin Network has been hard-coded to be that way. Therefore that is not under any form of the contest while his Bitcoin holdings are.
According to recent research by Whale Alert, Satoshi Nakamoto should have control of 1,125,150 bitcoins. These were mined up to block 54,316 with an estimated total value of the unspent bitcoin is at least $10.9 billion.
Satoshi’s Bitcoin Holdings makes his a billionaire
This means by the standard with which world ranks the wealthiest people, and Satoshi Nakamoto is one of the richest men if he is alive or decides to expose himself or should I say “themselves”.
Checking Forbes’ List of Richest Persons in 2020 shows Satoshi would easily fall in the 123rd position. This is just above Iris Fontbona & Family and Abigail Johnson of the United States.
The richest person alive today is Jeff Bezos of Amazon. He’s got a net worth of $113 billion, he is followed by Microsoft’s founder Bill Gates valued at $98 billion. While it may look as though Satoshi may be a small fry with some contexts, the picture may become clearer.
Even with the $100,000 per Bitcoin price prediction, Satoshi could easily rank the top five richest persons
Cryptocurrency industry is awash with speculations. This is a norm within the industry as most of the people and even institutional grade investors like to ride crypto’s volatility wave. As a result of this, we have seen speculations and predictions alike as to what Bitcoin price could become in the next years. From John McAfee to Tim Draper, wild predictions exist. With the $100,000 price target among the common denominators, Satoshi would fall short of Jeff Bezos’ net worth by just $1 billion. This is assuming every other factor like Amazon’s founder present net worth is held constant. That is to say, and Satoshi would be worth slightly above $112 billion at $100,000 per Bitcoin.
While this may be considered impossible because change is constant, bear in mind Jeff Bezos and other world’s richest people mainly operate in a global stock market economy valued at $50.9 billion market capitalization as at 2019.
Cryptocurrency industry as at the time of this publication according to Coinmarketcap hovers slightly above $277 billion. Comparing these figures viz-a-viz with its stock market counterpart, it shows the the latter is at least 184 times bigger than the cryptocurrency industry.
Cryptocurrency and Blockchain will last more than any hype from it
The hypes come and goes but the technology remains. We saw the ICO boom of 2017 as well as the IEO craze of 2019. The heat cools off around these activities and another spring up. This is exactly what we see today in 2020 with the DeFi craze some describe as “almost scary”. One thing is clear, that’s the fact that the technology supporting these innovations, some of which turn out to be a mere seven-day wonder will always remain. Moreover, many more innovations are underway with brilliant researches ongoing.
There’s no doubt the cryptocurrency industry will wield its influence and who knows many more billionaires may be emerging from this industry just like Satoshi Nakamoto present net-worth. If you doubt, then ask OpenAI’s GPT-3.
Komal Joshi · Oct 30, 2020 . 6min read