Bitcoin is probably one of the defining financial phenomenon of a post-crash world, but there is still uncertainty over who created it and their worth.
We know a name Satoshi Nakamoto. Beyond that, we really know nothing, although Australian entrepreneur Craig Wright claimed in 2016 it is he.
Satoshi could be alive, he could be dead. He could be a she, he could be a number of people. Nobody knows for certain.
But if the simplest explanation is in fact true, then Satoshi Nakamoto – whoever they truly are – is currently the 52nd richest person in the world if measured against Forbes‘ list of billionaires.
Are pseudonymous people eligible for the Forbes Billionaires list? Because Satoshi Nakamoto is now comfortably in the top 100 richest people in the world.
— Timothy B. Lee (@binarybits) December 7, 2017
Not only that, but some say he could well be on his way to topping that list as the world’s first trillionaire, according to Mashable.
This is the breakdown of just how that’s possible. Nakamoto is thought to be holding around 1 million Bitcoins, and at the current prices that gives him a healthy $17 billion for his trouble of starting the currency.
Some people say he has fewer Bitcoins, but most people agree on the sum of around 1 million.
So we already know he’s ludicrously wealthy, but many are stating that the recent surge in the price of the cryptocurrency is just the beginning.
Now, Satoshi has been off-the-grid since April 2011, and his Bitcoin stash has never actually moved, so we don’t even know where he’s up to.
So why would someone like him sit on a fortune of $17 billion and not spend a single penny of it? Well, that’s because if he did, he’d likely have his house raided like Craig Wright did in 2016, and would be arrested.
In order for Nakamoto to become the richest man in the world, the price of Bitcoin has to hit $88,000 – which sounds ludicrous. But this time last year, saying that Nakamoto would be anywhere near even the 100 richest people in the world would have been ludicrous.
While for Satoshi to be considered the world’s first trillionaire, the price of Bitcoin would have to hit $1 million per coin, which isn’t out of the question.
The figure has been touted by angel investor James Altucher, and one of the Winklevoss twins recently called Bitcoin a ‘multitrillion-dollar asset’.
Back in 2011, one coin was worth one dollar, and a mere $200 two years ago. This kind of growth is absolutely unheard of, even for the digital behemoths like Google, Apple and Facebook.
But as Mashable point out, who else really has the chance of becoming the first trillionaire?
Of course, this growth in price isn’t going to last forever, but at this moment in time it’s pretty much impossible to say which way the currency is going to go.
At this point, one of the most interesting things which could happen is if Satoshi moves some of his fortune, which could cause a serious wobble of the currency.
So it’s kind of a Catch 22, Satoshi has an unimaginable fortune, but if he spends a single part of it, the value of his fortune could well crash.
In the meantime, all anyone can do is look at the price of Bitcoin rise and wonder just who in the heck Satoshi Nakamoto is.