Conor Grogan, a Director at Coinbase, a leading crypto exchange, has made waves with a bold new claim. In a recent X post, Grogan asserted that Satoshi Nakamoto, the mysterious creator of Bitcoin (BTC), may control a whopping 1.096 million Bitcoin. This is worth around $108 billion at current prices. If true, this would make Nakamoto wealthier than Bill Gates, placing the Bitcoin pioneer among the wealthiest figures in history.
Grogan’s Controversial Theory: the Blockchain Proof
Grogan’s theory is built on blockchain data, pointing to 24 recorded transfer transactions from addresses believed to belong to Satoshi. Interestingly, the most common recipient of these funds is linked to the now-defunct Canadian crypto exchange CaVirtEx.
Since Kraken acquired CaVirtEx in 2016, Grogan speculated that the exchange may hold valuable clues about Nakamoto’s true identity. This revelation fuels speculation that Satoshi’s last known on-chain activity might have occurred in 2014.
That would be years after their sudden disappearance from the public eye. If Grogan’s theory is correct, Kraken may have data revealing Satoshi’s identity.
The Bitcoin Hoard: How Much Does Satoshi Nakamoto Own?
Grogan’s claim is not the first attempt to estimate Satoshi’s Bitcoin fortune. Blockchain analysts have long studied early Bitcoin mining patterns to track Nakamoto’s holdings. The most widely accepted research comes from Bitcoin developer Sergio Demian Lerner, who analyzed the Patoshi Pattern.’
This is a unique mining signature linked to one entity believed to be Satoshi. Lerner’s findings estimate that Satoshi controls roughly 1.1 million BTC, closely aligning with Grogan’s new claim.
However, some skeptics argue that Satoshi’s coins might not be as consolidated as many assume. Others believe that Nakamoto deliberately spread their holdings across multiple wallets, making it difficult to pinpoint an exact number.
Despite these debates, one thing remains clear. None of the suspected Satoshi wallets have ever moved a single BTC in a way that suggests liquidation or personal spending.
Who is Satoshi? The Endless List of Contenders
Speculation about Satoshi Nakamoto’s identity has continued since Bitcoin was created. Many people have been named the possible creator, and some have even claimed the title without strong evidence.
Craig Wright, an Australian computer scientist, has insisted for years that he is Nakamoto. He has been involved in lawsuits to defend his claim, but the crypto community remains doubtful because he has not provided cryptographic proof.
Hal Finney was an early Bitcoin developer and the first person to receive a Bitcoin transaction from Nakamoto. Some believe he was either Nakamoto or closely involved in Bitcoin’s creation, but he denied it before passing away in 2014.
Nick Szabo, creator of Bit Gold, has been suspected but denies any link. Likewise, Dorian Nakamoto was wrongly identified in 2014 and rejected the claim. An HBO documentary teased last October stirred the crypto community, claiming to reveal Nakamoto’s true identity.
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