Satoshi Nakamoto invented bitcoin, which is the world’s most valuable cryptocurrency. As an investment, bitcoin has made many people millionaires. What is the net worth of Nakamoto? Despite being behind the world’s most successful cryptocurrency project, Nakamoto has remained a mysterious figure.
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Bitcoin was launched in 2009 after the global financial meltdown, stemming from the property market crisis. A small group of traders started accepting bitcoin for payment in 2010. At that time, bitcoin began to attract big money investments. In 2012, Cameron and Tyler Winklevoss, also known as the Winklevoss twins, spent $ 10 million to buy bitcoins.
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Shatters Satoshi Nakamoto’s net worth
Satoshi Nakamoto has around 1 million bitcoins. For a current bitcoin price of about $ 24,000, that holding puts Nakamoto’s net worth at $ 24 billion. The fortune places him among the world’s 100 richest people. Nakamoto acquired bitcoins by mining the cryptocurrency in its early days. Bitcoin has been a good investment for Nakamoto and anyone else who arrived early.
We do not know who the founder of real bitcoin is
The identity of the real bitcoin founder is unknown. Many people have claimed or thought that Nakamoto is the founder. In 2016, Australian computer scientist Craig Wright claimed to be the founder of real bitcoin. Many people disputed the allegation, which led to Wright suing and being sued for it.
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Others thought to be the founder of real bitcoin include Nick Szabo, Hal Finney, Dorian Satoshi Nakamoto, and Shinichi Mochizuki. The other people connected to a bitcoin device are Adam Back, Gavin Andresen, Jed McCaleb, and drug dealer Paul Le Roux.
The desire to undo the real bitcoin inventor has led some people to speculate that Tesla CEO Elon Musk might be the enigmatic Nakamoto. Musk denied he had a role in developing bitcoin. Although Musk owns some bitcoin and has requested the conversion of Tesla’s balance sheet into bitcoin, most of its net worth is tied to its stake in Tesla stock.
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When did Satoshi Nakamoto disappear?
Besides questions about Nakamoto’s net worth and real identity, his disappearance is another matter of interest. The mysterious bitcoin inventor disappeared in 2011.
Nakamoto said he is moving on to other projects. He believed that the future of bitcoin was in good hands after its successful launch. Before going silent, he handed over key tools related to the project, such as source code, to various members of the bitcoin community.
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For example, Nakamoto turned over the network alert key to Gavin Andresen, a prominent member of the community. Interestingly, some people think Andresen could be the enigmatic Nakamoto.
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It is unclear why Nakamoto went underground after bitcoin was launched. Some people think that his disappearance may have to do with avoiding trouble with the authorities. Some people who tried to develop alternative currencies before bitcoin faced government actions they did not like.
Bitcoin has a stable supply
Currently, there are about 18.5 million bitcoins in the world. Bitcoin is created by mining, which is a complex process that involves solving mathematical problems to validate bitcoin transactions.
Unlike fiat currency like the dollar, Nakamoto designed bitcoin to have a stable supply. Thus, a maximum of 21 million bitcoins will ever exist. Fixed supply makes inflation-bitcoin-proof. Also, fixed supply is one reason why the cryptocurrency is drawing increasing numbers of large institutional investors. Why Nakamoto explicitly decided to cap bitcoin supply at 21 million units remains a matter of speculation.