Satoshi Nakamoto, the pseudonymous founder of Bitcoin, is now projected to be worth $118 billion, highlighting the cryptocurrency’s impressive rise from cents to six figures.
According to Arkham data, Satoshi Nakamoto’s 1.096 million BTC is now worth nearly $118 billion. These holdings, which have remained untouched for 16 years, continue to generate interest and speculation in the cryptocurrency world.
Satoshi is believed to have mined nearly 1.1 million BTC in the early days of Bitcoin, especially between 2009 and 2010. Back then, Bitcoin had little or no value.
Fast forward to today, and with Bitcoin trading just above $107,000, that stash is now worth almost $118 billion, placing Satoshi among the world’s wealthiest people, at least on paper.
Bitcoin price action
Bitcoin slid from recent highs after an earlier attempt to break the record price set a little more than two weeks ago failed.
Bitcoin rose as high as $110,651 on Monday and attempted a high of $110,435 on Wednesday before it began to decline. Bitcoin topped $110,000 as May inflation was lower than predicted, raising optimism for Fed rate cuts and crypto momentum.
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The CPI, a widely watched pricing indicator, reveals that prices rose 0.1% in April, falling short of most economists’ expectations, bringing the annual rate to 2.4%, still higher than the U.S. central bank’s 2% target.
During Bitcoin’s surge, Arkham reported Satoshi Nakamoto’s holdings to be more than $120 billion before somewhat declining.
At press time, BTC was down 1.69% in the last 24 hours to $107,740. The digital currency reached a record $111,980 on May 22.
