29 Mar 2021 #Bitcoin
It is estimated that Satoshi Nakamoto, the creator of BTC, will become the world’s richest person if the price of Bitcoin (BTC) hits approximately $182,000. As of March 2021, Amazon founder Jeff Bezos is the richest person on earth with a net worth of $181.6 billion. Elon Musk, the CEO of Tesla, is a close second at $163.7 billion, owning more than 20% of the electric car maker. Satoshi Nakamoto, the creator of Bitcoin, released the Bitcoin whitepaper in October 2008 under a public MIT license.
On Jan. 3, 2009, Bitcoin’s first block, known as the “genesis block,” was mined. This marked the launch of the Bitcoin network, which kickstarted the cryptocurrency and blockchain movement. Albeit the exact figures remain unclear, from January to July 2009, Satoshi Nakamoto is estimated to have mined over 1 million BTC. This means that at current Bitcoin prices, it is estimated that Satoshi Nakamoto is worth roughly $54 billion.
In other words, if the price of Bitcoin hits $182,000, this would put Nakamoto’s net worth at around $182 billion, which is higher than the current net worth of Bezos. In 2010, Sergio Demian Lerner, a prominent cryptocurrency researcher, published a research paper estimating the BTC holdings of Satoshi Nakamoto.
While there are many price models that predict the price of Bitcoin to reach anywhere between $200,000 to $1 million, the most well-known model is the Stock-to-Flow (S2F) model. The S2F model forecasts the price of Bitcoin to hit $100,000 to a “conservative” $288,000 by the end of 2021, using a formula based on the relationship between the value of Bitcoin versus the existing supply (stock) and the amount of newly mined BTC entering the market (flow).
If Bitcoin rises to as high as $288,000 as per the S2F model, Satoshi’s fortune would be worth around $288 billion, which should put the creator far out in front of Bezos and Musk. Meanwhile, some other Bitcoin price predictions have been even higher for the current bull cycle. For instance, Bloomberg predicted that BTC could reach as high as $400,000 if it becomes a “risk-off” reserve asset.
However, the identity of Satoshi remains a mystery and it isn’t known whether the person(s) is even alive today. Industry experts have suggested the likes of Hal Finney, Adam Back, and Paul Le Roux as potential candidates, as well as others presuming that it could have been a group of individuals.
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