Satoshi's Bitcoin Fortune Plummets by Over $67 Billion
The value of Satoshi Nakamoto's Bitcoin fortune has dropped significantly due to recent market fluctuations. According to Arkham data, Nakamoto's wallets, which have been untouched since 2010, hold approximately 1.096 million Bitcoin. This represents a current worth of $71.19 billion, down from its peak value when the Bitcoin price reached an all-time high of $126,198 last year.
The decline in value is substantial, with Nakamoto's holdings decreasing by more than 48% or around $67 billion since the Bitcoin price peaked. This drop in value has been attributed to the current market downturn, with Bitcoin trading at $65,172, down 48.37% from its record highs.
Rafael, co-founder of Glassnode, believes that Bitcoin continues to sit on 'somewhat shaky legs', with participation and demand remaining relatively thin. He notes that a sustained recovery is not yet in sight, requiring healthier participation levels.