Did Satochi Nakamoto Sell Bitcoin? If Yes, Why?

Did Satochi Nakamoto Sell Bitcoin? If Yes, Why? The Father of Cryptocurrency Allegedly Sold His Bitcoins.

An interesting theory suggests that Satoshi Nakamoto has been selling Bitcoin since 2019, using a clever strategy to hide his identity all this time.

According to CoinTelegraphresearchers have put forward a new theory about Nakamoto, claiming the Bitcoin creator never stopped his activities. Since 2019, he allegedly strategically sold his Bitcoin reserves through his initial wallet.

Research company BTC parser claims that several Bitcoin wallets created in 2010, each containing 50 BTC, became active for the first time in November 2019. BTCparser calls these wallets the “Mega Whales of 2010” and speculates that Nakamoto may have owned them, and is slowly liquidating them its ownership. The company further argued that Nakamoto intentionally left his 2009 wallet behind to avoid attracting the attention of traders. BTCparser notes:

“We suspect the mysterious 2010 Mega Whale may actually be Satoshi Nakamoto. However, this is just a theory, not a conclusion. If Satoshi is behind this wallet, it shows his careful efforts to maintain his privacy. With access to BTC minted in 2010, there is no need to use the original wallet in 2009, which would attract undue attention. This strategy ensures anonymity and minimizes the risk of his identity being revealed.”

How Satoshi Allegedly Sold Bitcoin

The Bitcoins in question are first consolidated into a single P2SH address, often used as an escrow, before being sent to various bech32 address. Escrow systems typically have lower transaction costs and utilize blockchain space more efficiently.

Around $5 million in Bitcoin sold from this address in November 2019. The next sale occurred in March and October 2020each amounting to between $6-8 million and $11-13 million. Recently, on November 15, 2024This wallet is sold Bitcoin worth $176 million.

The increase in sales volume coincided with the surge in Bitcoin prices, indicating that the whales were timing transactions strategically.

Coinbase's Potential Role

BTCparser noted that Coinbase may store additional information about the individuals or entities behind these transactions, as they are processed through its platform. However, intermediaries may be used to obscure the source.

Speculation on Satoshi's Identity

In October, an HBO documentary controversially stated that he was a prominent Bitcoin supporter Peter Todd maybe Satoshi Nakamoto. Todd denied the claims, and most industry experts considered HBO's evidence weak. Names like Nick Szabo, Adam ReturnsAnd Hal Finney has long been associated with Satoshi's identity. Szabo and Back consistently denied being Satoshi, while Finney, who died in 2013, also denied the claim during his lifetime.

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