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How Bitcoin Price Would Be Affected If Satoshi Nakamoto’s Identity Is Revealed?
How Bitcoin Price Would Be Affected If Satoshi Nakamoto’s Identity Is Revealed?
The founder of analytics firm CryptoQuant has assessed the price of Bitcoin if the identity of Satoshi Nakamoto is determined.
Author:
Mete Demiralp
08.10.2024 – 20:06
Update:
7 seconds ago
0
Ki Young Ju, founder of blockchain analysis platform CryptoQuant, stated that the disclosure of the identity of Bitcoin’s mysterious founder Satoshi Nakamoto could negatively affect the cryptocurrency market.
In a recent statement, he noted the potential downside implications of whether Satoshi is alive or dead.
“Disclosure of Satoshi’s identity could lead to a downfall,” Ki said, adding:
“If he is alive, concerns will focus on concentration of wealth; if he is dead, questions about who inherited 9% of the total BTC supply will fuel conspiracy theories and lead to discussions that divert from the true purpose of Bitcoin.”
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Satoshi Nakamoto, whose identity remains anonymous, mined Bitcoin in its early days using a unique extranonce model. Ki emphasized that all of Satoshi’s wallets are known and none of the Bitcoins in these wallets have ever been sold. Ki called on the community to respect Satoshi’s privacy as it is in line with the principles on which Bitcoin was built:
“If you want to support Bitcoin, let’s respect its privacy. We are all Satoshi.
“We know all of Satoshi’s wallets, which account for 9% of the total supply. So if a large amount moves from his wallet and sells, that’s when we leave the Bitcoin market. All of this is transparently and in real time shared on the blockchain data.”
Ki also rejected theories that Bitcoin could have been seized by the CIA or that it was in the hands of a specific person, saying that blockchain technology was born out of cryptography, a field focused on privacy.
*This is not investment advice.
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