We all know that Satoshi Nakamoto is a pseudonym for the creator of Bitcoin, but what most of us don’t know is the that he/she is currently the 52nd richest person in the world. Why? Because Satoshi owns 1 million Bitcoins. With the recent price hike, Satoshi could be having $17 billion, considering there is no news of him/her spending any of them.
Judging by how the Bitcoin has exploded just alone in this year, it’s safe to deduce that Satoshi could be the world’s first trillionaire.
Let’s do a little math.
Bitcoin proponents are predicting that whatever has happened to the price of Bitcoin in 2017 is just a fragment of what it’s going to be in the future. And with 1 million Bitcoins in hand, Satoshi could be the richest man/woman in a few years.
But Satoshi becoming the first trillionaire comes with a few caveats.
From what we know, Satoshi never moved any of his/her Bitcoins, which means, he still likely owns all his 1 million Bitcoins. Let’s talk about the figures. At the start of the year, Bitcoin was priced around $1000; it’s now at around $17000. Would it be naïve to say that Bitcoin price could hit $100,000 in next couple of years? According to Cameron Winklevoss, Bitcoin is a multitrillion-dollar asset which could easily be priced at $100,000 in the future.
If that ever happens, remember that Satoshi will be the richest man with a net worth of $100 billion. Fast forward a few more years and we could see Bitcoin hitting $1 million. No, all of this is unrealistic, if we look at how the cryptocurrency has grown from less than a dollar in 2011 to $18000 in 2017.
But Satoshi isn’t the only person who’s making billions out of Bitcoin. Tyler and Cameron Winklevoss, the twin brothers, became the first Bitcoin billionaires after they invested $11 million in Bitcoin in 2013.
The price of Bitcoin is going to stop rising at some point in time but considering its current growth, it seems like impossible.
But what happens if Satoshi decides to move some of his coins, well, that’s just going to be a nightmare considering he owns 1/21 of all Bitcoin. More on that in the upcoming post.
Note: All content is original & written by NewsCrux Team.