Satoshi's 1.1M Bitcoin Holding Claim Still Lacks Decisive Evidence

A recent movement of 600 bitcoin mined in March 2010 has reignited debate over whether Satoshi Nakamoto held approximately 1.1 million bitcoin mined in the early days.

Crypto research firm Bitquery analyzed 10 out of 12 blocks, finding that only two matched the 'Patoshi' pattern, which is associated with early large-scale mining.

Bitquery's Gaurav Agrawal explained that private keys can be inherited, sold, stolen or recovered from used storage devices, and that the chain only records control of a key, not a person.

The 1.1 million bitcoin estimate originated in 2013 from researcher Sergio Demian Lerner, who cautioned that it was circumstantial evidence without mathematical proof or direct testimony.