980000 Bitcoins that haven't moved!
According to research of many of early Bitcoin adopters around 980000 BTC belong to the creator of the Bitcoin protocol, "Satoshi Nakamoto". Who he is, nobody really knows. Is he or she, one person, or an entity, or maybe even the CIA...
Fact is, Satoshi mined 980000 coins himself, and they have never moved since. Which at current prices, is really remarkable. You would think, he would have already sold some, to ensure his future... But no!
Lost of just "too big too sell"
At today's value of BTC, this holding means Satoshi is at least worth 20 Billion USD. Which would make him one of the richest people in the world...
But is that really so? What if he starts moving his coins? What would be the reaction of the market?
Wouldn't the market overreact to that, wouldn't that drive prices down significantly?
The Bitcoin market has an official circulating supply of around 16 800 000 coins at this time. But in fact, the real supply is much less. As Satoshi's coins have never moved and estimates say that somewhere between 2 an 4 million coins are lost forever, due to loss of keys or hardware that stored them...
Which means that prices that are determined by supply and demand, actually would drop immensely if suddenly +/- 1 milllion coins would drop into the market. So are his coins worthless?
They aren't worthless, but not the price of BTC today. We can only guess what would happen if he or she started to sell... His holding is actually "Too big to sell"...
Leave your opinion on this in reply, if you like!
Sincerely,
Pele23
@originalworks
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
interesting @pele23 i had no idea, and my first opinion is.... if Satoshi still owns this bitcoins well he deserve the current value, and if he starts to move this would be like.... what if Bill Gates starts to move his Microsoft positions ... or Zuckerberg ... well some1 else would buy it :)
It would definitely cause pandemonium on the markets, that is for sure!
Thanks for the upvote. As the person who created the Bitcoin, if he/she ever intended to sell them he/she would be selling them bit by bit so that the current price would not be affected so much.
I often listen to a youtoube channel of Jörg Molt who is the owner of Satoshi School. According himself, he owns about 250T Bitcoins. He talks in one of his videos (which is in german) about the topic. Saying that there is a small number of 'whales' owning approximately 10 M of Bitcoins. All of them are aiming the a similar objective of such as getting rid of the fiat money system.
(
Well, if that is the case, then we could definitely see BTC go to a million USD a coin... Which sounds crazy, but actually isn't!
good opinion, thanks for sharing bro