Satoshi Nakamoto’s Bitcoin Holdings Face Major Losses
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is currently the largest holder of BTC. As of now, their wallet has experienced over $20 billion in unrealized losses since peaking at over $126,000 in early October.
Data from Arkham Intelligence suggests Nakamoto’s Bitcoin stash exceeds 1 million BTC, equating to more than $117.5 billion at present.
When Bitcoin surged to a new all-time high of over $126,000 during the first week of October, the total value of the portfolio reached upwards of $136 billion.
However, the cryptocurrency market saw significant turmoil due to a series of liquidations in the perpetual futures market on October 8. This was sparked by a post from US President Donald Trump, suggesting additional tariffs on China—something that raised red flags for investors worried about a potential trade war escalation.
The resulting market collapse led to $20 billion in liquidations, marking the worst 24-hour liquidation event in crypto history. Prices plummeted, with some altcoins dropping by more than 99%. Still, Bitcoin managed to maintain its value above $100,000, exhibiting notable resilience.
A market crash is, perhaps, just a temporary setback, not a fundamental reassessment.
Investment analysts from Kobesi Letter maintain that the market downturn beginning October 8 is merely a short-term dip that should not affect long-term fundamentals.
The analysts emphasized that several technical factors contributed to this market meltdown, including excessive leverage, low market liquidity amplifying volatility, and Trump’s social media comments.
“We believe a trade deal will be reached and cryptocurrencies will remain strong. We are bullish,” the analysts noted.
Earlier, The Kobeissi Letter pointed out that Bitcoin’s all-time high coincided with the year the US dollar faced its most significant decline since 1973, indicating substantial macroeconomic shifts.
Additionally, the simultaneous rise in prices of risk-on assets and store-of-value commodities like gold and BTC is unusual, as these asset classes typically react oppositely. This further supports the Kobessi analysts’ macroeconomic theory.
