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The crypto market rally has catapulted Bitcoin’s price to new heights. In just a little over a year, BTC’s value has surged more than ten times creating more crypto millionaires in the process.
Based on data from Coinmarketcap, Bitcoin traded as low as $5,057 on March 16, 2020. At the time of writing, BTC is trading at $57,613, which means that the crypto surged by 1,039 percent in just a little over a year.
While the massive price increase might have made a lot of BTC investors wealthier, it is not enough to make the crypto’s creator Satoshi Nakamoto surpass Jeff Bezos’ wealth and become the world’s richest man. For that to happen, Bitcoin needs to soar to around $182,000 per coin, according to Cointelegraph.
Satoshi Nakamoto is the pseudonym used by the person or persons who developed Bitcoin. Nakamoto released the Bitcoin whitepaper in October 2008 while the crypto’s first block, also known as the genesis block, was mined on January 3, 2009, which started the cryptocurrency and blockchain movement.
While the exact amount is still unclear, it is estimated that Nakamoto mined over a million BTC from January to July 2009. This means that Satoshi Nakamoto now owns more than $57 billion in Bitcoin at currency prices.
“I estimate at eyesight that Satoshi fortune is around 1M Bitcoins or 100M USD at the current exchange rate,” cryptocurrency researcher Sergio Demian Lerner wrote in a paper estimating Nakamoto’s BTC holdings, which was published in 2010. “I’m sure there will be plenty of people that will carefully analyze the source data set and come up with the exact figure, which will be very close, but nevertheless they will scream at me again.”
The world’s richest person is Amazon founder Jeff Bezos with an estimated net worth of $181.6 billion as of March 2021. At the second spot is Tesla CEO Elon Musk with a net worth of $163.7 billion.
For Nakamoto to surpass Bezos’ wealth and become the world’s richest person, BTC’s price needs to reach $182,000 per coin. At this level, the Bitcoin creator’s holdings would be valued at $182 billion.
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