Satoshi Nakamoto Climbing Up ‘World’s Richest’ Ladder as Bitcoin Explodes in Value d4b4m Technology News

As of February 27, the valuation of Nakamoto’s BTC holdings stand at $63.4 billion (roughly Rs. 5,25,977 crore). 1f366

Written by Siddharth Suvarna | Updated: 27 February 2024 15:31 IST

Satoshi Nakamoto Climbing Up ‘World’s Richest’ Ladder as Bitcoin Explodes in Value

Photo Credit: Twitter/ @CyrilObieze 6d5r1d

Satoshi Nakamoto created Bitcoin in 2009 and bid farewell to the crypto space in 2011

Highlights

Satoshi Nakamoto remains anonymous with whereabouts unknown
Nakamoto is estimated to hold 1,125,150 Bitcoin
The mysterious BTC creator is one of the world’s most liquid entities

ment

Bitcoin, the oldest and most expensive cryptocurrency, is exploding in value now that its next scheduled halving is scheduled for April. As of Tuesday, February 27, Bitcoin is trading at its two-year high price point of $55,753 (roughly Rs. 46.2 lakh). As the cryptocurrency is rising in value, its anonymous creator who goes by the pseudoname of Satoshi Nakamoto is also getting richer. The estimated amount that Nakamoto has accumulated through his BTC holdings is reportedly above $60 billion (roughly Rs. 4,97,333 crore) as of Tuesday.

While the identity and whereabouts of Nakamoto remain unknown – there is some information available about their personal BTC holdings. In a report released in 2020, crypto research firm Whale Alert had claimed that Nakamoto owns 1,125,150 Bitcoin mined up to block 54,316.

At that time, the value of Nakamoto's fortune stood at $10.9 billion (roughly Rs. 90,345 crore). As of February 27, however, the same holding is worth $63.4 billion (roughly Rs. 5,25,977 crore).

Metaverse’s Healthcare Footprint May Grow to Nearly $500 Billion by 2023

If Nakamoto's net worth was tracked accurately by Forbes, they would be ranked under the top 25 richest people in the world. Currently, Bernard Arnault and family – who own Louis Vuitton and a total of 75 luxury brands like Bulgari, Dior, Fendi, and Givenchy – are marked the richest in the world with a fortune of $229.4 billion (roughly Rs. 19,01,347 crore) as per the Forbes' Real Time Billionaires List. Meanwhile, the 24th rank presently belongs to Julia Koch & family with their net worth touching $61.2 billion (roughly Rs. 5,07,247 crore).

Nakamoto's wealth, unlike many traditional businesspersons, is divided across thousands of digital wallets making him one of the most liquid individuals on paper, a Bitcoin.

While there are stories and individuals who have, in the past, claimed to possess information about Nakamoto, the most believable details about Nakamoto are logged with the P2P Foundation. This forum is an international organisation that tracks and documents peer to peer practices with a pool of resources. s of the P2P Foundation forum are required to enter their birthdates when they .

eBay Could Exit NFT Sector, Reportedly Trims Web3 Team

As per Nakamoto's profile page, BTC's creator was born in 1975 as a male in Japan. It remains unclear if this information is accurate or not. After creating the Bitcoin in 2009, aiming to break the financial monopoly held by world governments, Nakamoto announced his departure from the crypto space in 2011. The explosion of their wealth catapulting them among the world's richest, however, does seem to indicate that Bitcoin is here for the long haul whether world regulators it or oppose it.

Is the Samsung Galaxy Z Flip 5 the best foldable phone you can buy in India right now? We discuss the company's new clamshell-style foldable handset on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Bitcoin

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More