Key Findings on Satoshi Nakamoto’s Bitcoin Movements
Blockchain research firm BTCparser has uncovered evidence suggesting that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, may have been strategically liquidating holdings from early Bitcoin wallets since 2019. The study points to a series of dormant "2010 Megawhale" addresses—each holding 50 BTC—that suddenly became active in November 2019 after years of inactivity.
The 2010 Megawhale Theory
- Address Patterns: Over 50 BTC addresses were created in 2010, remaining untouched until 2019.
- Strategic Cashouts: Funds were consolidated into a P2SH address (often used for escrow), then distributed to low-fee bech32 addresses.
Timed Sales:
- First Sale: $5M (November 2019)
- Second Sale: $6M–$8M (March 2020)
- Third Sale: $11M–$13M (October 2020)
- Fourth Sale: $176M (November 15, 2023)
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Why Avoid the 2009 Wallets?
BTCparser theorizes that Satoshi deliberately avoided moving 2009-mined coins to maintain anonymity. By using 2010-mined BTC, Satoshi could:
- Prevent drawing attention to the original stash.
- Reduce identity exposure risks.
- Sustain privacy-focused credibility.
Industry Reactions and Controversies
- HBO Documentary Claims: Alleged that cryptographer Peter Todd invented Bitcoin—a claim Todd and experts dismissed due to weak evidence.
- Other Candidates: Nick Szabo, Adam Back, and Hal Finney have been linked to Satoshi’s identity, but all have denied involvement.
FAQs
Q1: How much BTC does Satoshi allegedly hold?
A: Estimates suggest 1M+ BTC, primarily from 2009–2010 mining.
Q2: Could Coinbase know Satoshi’s identity?
A: BTCparser speculates Coinbase might have insights, given the exchange handled large transactions.
Q3: Why sell now?
A: Sales align with Bitcoin’s price surges, indicating strategic profit-taking.
Market Implications
The $176M November 2023 sale coincided with BTC’s rally, fueling debates about:
- Market manipulation risks from whale movements.
- Long-term supply shocks if Satoshi’s coins enter circulation.
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Conclusion
While the 2010 Megawhale theory remains unproven, it underscores Satoshi’s potential influence on Bitcoin’s liquidity and price dynamics. The deliberate, phased cashouts suggest a nuanced approach to wealth preservation—one that prioritizes anonymity while capitalizing on market highs.
Note: This analysis is speculative and not investment advice. Always consult financial experts before making decisions.
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