Satoshi's $71 Billion Bitcoin Loss: Market Selloff Takes a Toll

The value of Satoshi Nakamoto's Bitcoin fortune has plummeted to $71.19 billion due to the recent selloff in the market.

This represents a decline of about $67 billion, or more than a 48% drop from the peak value when Bitcoin reached an all-time high of $126,198 last year.

Satoshi's wallets, which have been untouched since 2010, hold approximately 1.096 million Bitcoin according to Arkham data.

Rafael, co-founder of Glassnode, thinks that Bitcoin is sitting on shaky legs with participation and demand remaining relatively thin.