Bill Gates dethroned? Bitcoin creator Satoshi Nakamoto now worth more than Microsoft mogul amid crypto price rally
Satoshi Nakamoto
, the creator of Bitcoin, is now wealthier than
Microsoft
co-founder
Bill Gates
, according to a report, following a fresh uptick in
Bitcoin
prices after the US-China trade deal led to optimism.
Bitcoin's Creator Quietly Climbs the Wealth Ranks
As of May 14, the wallet commonly believed to belong to Nakamoto held some estimated $113.8 billion in Bitcoin, found
blockchain analytics
firm Arkham, reported
Benzinga
. That figure puts Nakamoto ahead of Gates, whose net value is around $112.9 billion, as monitored by Forbes' Real-Time Billionaires list. If Nakamoto was officially placed on Forbes, they would be ranked as the 12th richest individual in the world, reported Benzinga.
Benzinga reported that, it is collectively estimated that Satoshi holds around 1.1 million Bitcoin, or around 5% of the circulating supply of the coin.
ALSO READ:
U.S. banks sitting on $500 billion in unrealized losses as stagflation fears raise alarms of a repeat of Silicon Valley Bank-like collapse
Presently, Tesla and SpaceX CEO
Elon Musk
tops this super-rich list with an accumulated wealth of $395.6 billion, according to the report.
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Theoretically, if Nakamoto is to become the world's richest, the price of Bitcoin must reach $360,000 or more, which is presently an unrealistic expectation, reported Benzinga.
The Identity Mystery Lives On
While, Nakamoto's real identity is still unknown and has remained a focus of keen speculation since the dawn of Bitcoin in 2009, as per the report. Different names, such as Bitcoin Core developers Peter Todd, Len Sassaman, and Nick Szabo, have been attributed to the mysterious personality over the years, according to Benzinga.
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Tesla rejoins the $1 trillion club, but troubling China data sparks investor doubts about what's really driving growth
A documentary which was aired last year, titled 'Money Electric: The Bitcoin Mystery", claimed that Todd was Nakamoto, however, Todd was quick to deny the claim, reported Benzinga.
FAQs
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonymous creator of Bitcoin, as per reports. Their real identity has never been confirmed.
Could Satoshi Nakamoto become the richest person in the world?
Only if Bitcoin hits $360,000 per coin. That would put Nakamoto ahead of Elon Musk.
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