Satoshi Nakamoto, the anonymous figure behind Bitcoin, has reached a new milestone in personal wealth.
As Bitcoin’s price passed $120,000 on July 13, Arkham, a blockchain analytics firm, estimated Nakamoto’s known holdings, about 1.096 million BTC
That would place them just above Dell Technologies founder Michael Dell, who has an estimated net worth of $125.1 billion.
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Despite this, Nakamoto’s name is not included on Forbes’ official billionaire list. The reason is that Forbes only includes assets that are publicly confirmed, like stocks or company shares. Bitcoin stored in private wallets, even in large amounts, is not counted.
According to market data from Nansen, Bitcoin needs to rise much further for Nakamoto to reach the top of the wealth list. Analysts estimate Bitcoin would have to climb to around $370,000, a gain of more than 200%, for Nakamoto to overtake current leaders if their wealth remains unchanged.
On June 2, Eric Balchunas, an analyst at Bloomberg, shared in a post on X that if Bitcoin continues to grow at about 50% per year, Nakamoto could become the second-richest person by 2026.
He also noted that Nakamoto’s decision not to spend any of their Bitcoin is unusual and drew a comparison to Vanguard founder Jack Bogle, who left behind a relatively modest fortune despite his major influence on investing.
Meanwhile, Canadian rapper Drake included a Bitcoin reference in his latest song, “What Did I Miss?”. What do the lyrics say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
