Estimates show that Satoshi Nakamoto has mined about 1 million units of bitcoin. Jeff Bezos, on the other hand, has a net worth of about $ 181 billion. The main question is, at what price should bitcoin reach in order for Nakamoto’s wealth to surpass Bezos’ net worth?
to the Report Quinn Telegraph It is estimated that Satoshi Nakamoto, the creator of this digital currency, will become the richest man in the world if the price of Bitcoin reaches around $ 182,000.
Global statistics for March 2021 show that Amazon co-founder Jeff Bezos is the richest man in the world with a net worth of $ 181.6 billion. Tesla CEO Elon Musk, who owns more than 20 percent of the electric car company, is second with a net worth of $ 163.7 billion.
How much bitcoin does Satoshi Nakamoto have?
Nakamoto released the White Paper Bitcoin in October 2008 under a general license from MIT. On January 3, 2009, the first bitcoin block known as the Genesis Block was extracted. It marked the launch of the Bitcoin network, which launched the digital currency and blockchain movement in China.
Although the exact amount of Nakamoto’s assets remains unclear, it is estimated that he mined more than one million bitcoins from January to July 2009. At current Bitcoin prices, Nakamoto’s fortune is approximately $ 55 billion.
In other words, if the price of bitcoin reaches $ 182,000, Nakamoto’s net worth will be about $ 182 billion, which is higher than Bezos’ current net worth. Sergio Demian Lerner, a leading digital currency researcher, published a research paper in 2010 estimating Nakamoto’s bitcoin assets.
Analyzing Nakamoto’s initial blocks, Lerner estimates that he probably owns one million bitcoins. Lerner wrote:
My estimate is that Satoshi’s fortune is about 1 million bitcoins, or $ 100 million at current rates. I’m sure there are many people who carefully analyze the source data and provide an accurate figure that will be very close. However, they will shout at me again.
Will the price of Bitcoin reach $ 182,000?
Although there are many price forecasting models that estimate the price of Bitcoin between $ 200,000 and $ 1 million, the most popular is the Stock-to-Flow model.
This model predicts that the price of bitcoin will reach $ 100,000 to $ 288,000 by the end of 2021. This model uses a formula based on the relationship between the value of bitcoins versus the number of available bitcoins (accumulation) and the number of bitcoins that are mined and entered the market (flow).
PlanB, the inventor of the flow accumulation model, said in November 2020:
People ask if I still believe in my model. Let me be clear: I have no doubt that the Bitcoin S2FX model is correct and that Bitcoin will reach $ 100,000 to $ 288,000 before December 2021.
If, according to the accumulation model, Bitcoin rises to $ 288,000, Satoshi’s fortune will be about $ 288 billion and he will have to be far ahead of Bezos and Musk.
Meanwhile, some other bitcoin price forecasts for the current uptrend have been much higher. Bloomberg, for example, predicts that if Bitcoin becomes a “risk-free” reserve asset, it could fetch up to $ 400,000.
While Nakamoto’s identity remains a mystery, it is unclear whether he (or others) is still alive at all.
Experts in the digital currency industry have nominated people like Hal Finney, Adam Back and Paul Le Roux as potential candidates. Of course, there are those who think that Satoshi’s identity may belong to a group of people.