Originally published on: November 25, 2024
A new theory surrounding the enigmatic Satoshi Nakamoto has surfaced, suggesting that the Bitcoin creator has been strategically cashing out from early Bitcoin wallets since 2019. According to Bitcoin research firm BTCparser, Satoshi never truly went dormant and has been orchestrating a careful plan to sell off a stash of Bitcoins held in wallets created in 2010.
The theory posits that Satoshi, under the guise of the “2010 megawhale,” has been gradually liquidating these wallets while avoiding drawing attention to the earlier 2009 wallets to maintain privacy. BTCparser speculates that these wallets are owned by Satoshi himself, although they acknowledge that it remains a theory rather than a definitive conclusion.
If indeed Satoshi is behind these 2010 wallets, it showcases a meticulous planning on the part of the creator to safeguard their anonymity. The funds from these wallets were consolidated into a P2SH address before being distributed to multiple bech32 addresses, known for low transaction fees and efficient use of block space.
Noteworthy sales from these wallets took place in November 2019, March and October 2020, culminating in a massive $176 million liquidation just recently on November 15. BTCparser suggests that Coinbase, the exchange where these transactions occurred, may hold valuable insights into the identity behind these sales unless the whale is utilizing intermediaries.
Over the years, various figures in the cryptocurrency community have been speculated to be Satoshi Nakamoto, including Peter Todd, Nick Szabo, Adam Back, and Hal Finney. However, most have denied these claims, with HBO even suggesting that Todd invented Bitcoin in a controversial documentary. Despite these speculations, the true identity of Satoshi Nakamoto continues to elude the public eye.
Unravel the mysteries of the cryptocurrency world with engaging articles like this. Subscribe to our Markets Outlook newsletter for critical insights on investment opportunities, risk mitigation strategies, and trading tips delivered every Monday. Stay informed and ahead of the curve in the ever-evolving world of cryptocurrencies.
