Key Takeaways:
- Satoshi Theory: Researchers propose that Bitcoin creator Satoshi Nakamoto may have been selling BTC from 2010 wallets since 2019, avoiding older wallets to stay anonymous.
- Transaction Strategy: Funds were consolidated into a P2SH address, distributed via Bech32 wallets, with sales timed to Bitcoin’s rising value.
- Ongoing Mystery: Satoshi’s identity remains unconfirmed, with the “2010 Megawhale” theory adding to speculation about the enigmatic figure.
A recent analysis by BTCparser has introduced a theory suggesting Bitcoin’s creator, Satoshi Nakamoto, might have been cashing out holdings from 2010 Bitcoin (BTC) wallets since 2019.
These wallets, known as the “2010 Megawhale,” each held 50 BTC and remained untouched until their first movement in November 2019.
A Theory, Not a Conclusion 🌐
— Vladimir S. | Officer's Notes (@officer_cia) November 18, 2024
Of course, this is just my theory as a blockchain researcher. It offers a plausible explanation for why Satoshi’s 2009 wallets remain dormant while 2010 wallets are being used. If true, it paints a picture of a creator who planned meticulously to…
Researchers speculate that Satoshi could be behind these transactions, strategically selling later-minted Bitcoin to maintain anonymity and avoid drawing attention to Bitcoin’s origins.
The analysis highlights that by using 2010 wallets instead of those from 2009, Satoshi could preserve the integrity of their original stash while protecting their identity.
The Bitcoin was reportedly consolidated into a Pay-to-Script-Hash (P2SH) address and later distributed to Bech32 addresses.
Sales began in November 2019, with $5 million worth of BTC liquidated.
Subsequent sales ranged from $6–8 million in March 2020 to $11–13 million in October 2020.
The largest sale, $176 million, occurred on November 15, 2023.
The timing and scale of these transactions coincide with Bitcoin’s rising value, suggesting a calculated approach to maximizing returns.
BTCparser also notes that Coinbase, the exchange involved, might hold clues to the individual or entity behind these sales, barring intermediary involvement.
While the theory is compelling, it remains unproven.Satoshi Nakamoto’s true identity, and their potential link to the 2010 Megawhale, continues to be one of the greatest mysteries in cryptocurrency history.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: