Satoshi's Bitcoin Fortune Plummets to $71 Billion Amid Market Slump
The value of Satoshi Nakamoto's Bitcoin fortune has plummeted to $71.19 billion due to the recent decline in the price of BTC, which is now trading at $65,172.
This represents a more than 48% drop from its peak value when the price reached an all-time high of $126,198 last year, making Satoshi's holdings worth over $138 billion at that time.
The decline in value has been attributed to the current market conditions, with participation and demand remaining relatively thin, as per Rafael, co-founder of Glassnode. The spot activity and daily spot turnover ratio are also at extremely low levels, describing this scenario as textbook apathy.