The reputed CEO of the leading Bitcoin P2P trading platform, Arthur Hayes, created a buzz in the financial world with his statement on Satoshi Nakamoto, the profounder of the first cryptocurrency coin Bitcoin.
Arthur’s words “I think they’re already dead” about the creator of Bitcoin came as a surprise for the financial heads. He added that he does not believe that the real identity behind the originator of Bitcoin will ever get disclosed. Based on the current value of Bitcoin at $9,913, Satoshi Nakamoto is believed to hold 980,000 BTC which have a lucrative worth of 9.716 billion.
In the earlier part of the current year, the net worth of Satoshi touched $13.72 billion as BTC price rose to $14,000. Since then, the BTC price has retraced by more than 29% in the past two-months period.
In 2009, when Satoshi introduced the world to its first virtual currency, Bitcoin, he opined to deliver a currency that works independently without the presence of a third-party service provider and financial entity. It facilitates a pure peer-to-peer network for transferring value between individuals. Bitcoin’s appearance posed a threat on the existing financial institutions and currencies by rendering them useless over a long term span, and this would have brought the creator at target.
There is an air of doubt whether Satoshi kept his identity hidden on purpose. However, proving the real identity of Satoshi is definitely a challenging situation for the crypto space.
If in the future, a person can mathematically and cryptographically prove oneself as Satoshi by signing into the wallet owned by the creator, there will always be a probability that the wallet could have been stolen or the keys may have been under a vulnerable threat.
There is also a strong possibility that Satoshi is not a single person but a group of cryptographers that facilitated the release of bitcoin. If such is the case, then finding the bitcoin curator will become even more difficult. However, if Satoshi’s intent was never to transact the whooping amount in his wallet and keeping himself anonymous, then it is likely in the interest of bitcoin and its investors that Satoshi’s identity remains hidden.
BitMEX CEO has opined that the bitcoin price will stand at $100,000 in the next three years, which will make Satoshi’s net worth to $98 billion. This presumption will place Satoshi as the second richest individual globally, right behind Jeff Bezos, founder, and CEO of Amazon.
BTC can achieve the $100,000 billion target if the number of an investor increases at a good pace, and institutions start relying on the digital coin as a safe haven asset like gold and store of value. However, throughout 2019, BTC has not been able to establish itself as a safe haven asset.
With an increase in the value and infrastructural support, bitcoin is likely to attract a bigger market of investors.
Recently, BitMEX came under the scrutiny of the US Commodity Futures Trading Commission in concern for violation of rules. As BitMEX is not listed in the US, the regulator is probing into the matter if the exchange has violated the rule by allowing US investors to trade on its platform.