Bitcoin fever is in full swing. Although Satoshi Nakamoto still holds the most BTC, some corporations are slowly starting to catch up with him. How much coin does Nakamoto have and why is bitcoin dispersion so important?
Who is Satoshi Nakamoto?
Let’s start with the basics. Satoshi Nakamoto is the nickname used by the person or group of people responsible for creating Bitcoin, the world’s first decentralized cryptocurrency. It was Satoshi who published a white paper in 2008 entitled Bitcoin: A Peer-to-Peer Electronic Cash Systemin which he presented a vision of a financial system independent of banking and government institutions. And that’s it – you already know the rest perfectly well 😉
Satoshi’s identity still remains a secret, which adds to the aura of mystery around him and BTC. Of course, every now and then there is some exciting news that the world has found out who Satoshi Nakamoto is, but each time it turns out to be a cheap sensation. The most frequently mentioned names of the creator of BTC include Hal Finney, Craig Wright, and Paul Le Roux. Even our editorial colleague Jacek Walewski humorously admitted on the pages of the X portal that he was Satoshi Nakamoto. In fact, there is strength in this – Satoshi Nakamoto feels the entire BTC community.
When did Satoshi Nakamoto invent Bitcoin and why then?
Work on Bitcoin began in 2007, and the first block of the network, called the Genesis Block, was mined on January 3, 2009. Bitcoin was created as a response to the 2008 financial crisis, which at the time seemed like the financial and economic end of the world.
Nakamoto wanted to offer society an alternative to traditional financial systems, based on transparency and resistance to manipulation. There is no central control body in the Bitcoin system, which eliminates the risk of inflation resulting from excessive currency issuance. Algorithmically, there will be only 21 million BTC – not a single coin more or less.
How many Bitcoins does Satoshi own and how has it changed over time?
Satoshi Nakamoto mined the first Bitcoin blocks and thus accumulated approximately 1.1 million BTC. These coins are stored at known addresses and have never been transferred from them. Their value at the current BTC price is estimated at billions of USD. There has been much speculation over the years as to why these funds remain intact.
One hypothesis is that Satoshi Nakamoto wanted to emphasize his altruistic intentions towards the project. Other theories indicate that Satoshi is already dead (this would link him to Hal Finney) and that is why the bitcoin creator’s coins lie idle like gold under the dragon Smaug.
How much Bitcoin do ETFs and MicroStrategy hold? Who can threaten Satoshi?
ETFs, i.e. asset management investment funds, are starting to accumulate large amounts of Bitcoin. An example is the Grayscale Bitcoin Trust, which holds over 600,000 BTC. In turn, MicroStrategy, an American technology company managed by Michael Saylor, already has over 430,000 BTC. As more and more institutions start investing in Bitcoin, Satoshi may no longer be the largest holder of his cryptocurrency.
It is worth adding that the accumulation of Bitcoins by large entities, such as ETFs or corporations, may lead to the centralization of ownership of this by definition decentralized cryptocurrency. The future in such a scenario does not look very bright, because the accumulation of BTC in the hands of giants will affect market stability, causing significant price fluctuations in large transactions. Moreover, in the event of potential government regulation, these institutions could be forced to disclose or freeze their holdings, which would weaken confidence in Bitcoin’s independence.
The US plan to increase exposure to BTC – does the US want to make BTC the new gold and threaten China and Russia?
The US government and US financial institutions are increasingly interested in Bitcoin as a strategic asset. Some experts suggest that the US may want to use Bitcoin as a “new digital gold” to strengthen its geopolitical position. This could pose a challenge for China and Russia, which are promoting their own digital currencies. Bitcoin, as a global resource with limited supply, may become a key element of the strategic game between superpowers. Interestingly, both the US and China have large amounts of BTC from confiscations after criminal activities (in the case of the US, mainly Silk Road inheritance). However, it is the USA that has the largest amount of BTC, i.e. over 205,000 coins.
Satoshi Nakamoto is undoubtedly an icon in the cryptocurrency world, but his position as the largest holder of Bitcoin may be threatened by the growing involvement of financial institutions and governments. While its BTC remains intact, Bitcoin’s future will depend on the decisions of institutional investors and global geopolitical changes.
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