Bill Gates Left Behind By Satoshi Nakamoto: Bitcoin Creator's Wealth Now Eclipses That Of Microsoft Co-Founder Amid Crypto's Sharp Rebound
Bitcoin's (CRYPTO: BTC) pseudonymous creator, Satoshi Nakamoto's estimated fortune has surged sharply, surpassing that of tech billionaire Bill Gates.
What happened: As of this writing, the wallet linked to Satoshi owned about $113.8 billion in Bitcoin, according to blockchain analytics firm Arkham.
Notably, the wealth of Microsoft co-founder Gates was estimated at $112.9 billion, according to Forbes’ Real-Time Billionaires list. Had Satoshi been ranked here, they would be the 12th-wealthiest person in the world.
It is collectively believed that Satoshi owns roughly 1.1 million Bitcoin, making up 5% of the coin's circulating supply.
Currently, Tesla and SpaceX CEO Elon Musk is ranked first on this super-rich list, with an eye-popping fortune of $395.6 billion. Theoretically, for Satoshi to become the world's wealthiest, Bitcoin's price has to hit $360,000 or above, which is currently an unrealistic expectation.
See Also: Ethereum Flat After Pectra Upgrade, But Analyst Foresees Overhaul ‘Tailwind’ That Could Take ETH Above $2,000
Why It Matters: Nakamoto’s true identity is yet to be revealed and is a subject of intense speculation since the inception of Bitcoin in 2009. Various figures, including Bitcoin Core developers Peter Todd, Len Sassaman, and Nick Szabo have been linked to the mysterious personality over the years.
A documentary titled ‘Money Electric: The Bitcoin Mystery" aired last year, claiming that Todd was Satoshi. Todd was quick to deny the claim.
The surge in Satoshi’s wealth coincided with Bitcoin’s sharp recovery induced by U.S.-China trade deal optimism.
Price Action: At the time of writing, Bitcoin was exchanging hands at $103,987.78, up 0.28% in the last 24 hours, according to data from Benzinga Pro. Over the last year, the coin has gained over 70%.
Photo Courtesy: Szabolcs Magyar On Shutterstock.com
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