In mid-November 2021, Bitcoin’s inventor Satoshi Nakamoto was one of the wealthiest individuals on the planet, with more than $69 billion in bitcoin, and was among the top 20 on the Forbes 2021 Billionaires list. Seven months have passed since then, and Bitcoin’s unknown creator has dropped from the top 20 spot and is now positioned in the 79th rank among the world’s richest 100 people.
Satoshi Nakamoto’s Net Worth Dropped 70% — Bitcoin’s Inventor Is Still in the Top 100 Richest Billionaires
On the low end, it is estimated that Bitcoin’s creator, Satoshi Nakamoto, mined at least 600,000 to 700,000 bitcoin (BTC) during the blockchain’s initial launch period. Higher estimates suspect that Nakamoto mined up to 1.1 million BTC with a single high-end PC.
It’s safe to say it is generally accepted that Nakamoto has roughly 1 million bitcoin, and all of the forks that stemmed from the original creation. This means that if Nakamoto still owns the stash of coins, then the net value of the inventor’s portfolio is worth more than $20.5 billion using today’s BTC exchange rates.
With a net worth of more than $20.5 billion, Satoshi Nakamoto is the 79th richest person on the planet today. Nakamoto is just above the billionaire Huang Shilin, the vice-chairman of Contemporary Amperex Technology (CATL). His business is one of China’s largest electric car battery manufacturers and Shilin is worth $20.3 billion today, according to the Forbes 2022 Billionaires list.
Just above Nakamoto is Jensen Huang, the co-founder of the graphics processing unit (GPU) chip maker Nvidia. In 2022, Huang commands the 78th position in terms of the world’s richest, as Huang’s net worth today is $20.6 billion.
While Nakamoto’s Portfolio Dropped in Value, CATL and Nvidia Executives Saw Their Net Worth Increase
The difference between Nakamoto and the billionaires Shilin and Huang is while the Bitcoin inventor’s net worth dropped over 70% after the high in mid-November 2021, Huang’s and Shilin’s increased.
The vice-chairman of CATL saw his net worth increase by 57.36% since last year and Huang’s wealth jumped by 74.57% since 2021. Both Shilin and Huang also moved up a few notches on the Forbes Billionaires list from 2021 to 2022, while Satoshi’s position dropped.
Nakamoto’s position today is the 79th on the Forbes list, but on October 17, 2021, Bitcoin’s inventor was the 20th richest person. In fact, at that time, Nakamoto was just below all three Walton siblings. The Walton family members Jim Walton, Alice Walton, and Rob Walton own and operate the mega retail chain Walmart.
In October, when Nakamoto was the 20th richest person, Bitcoin’s inventor did not spend a single penny of the $60.9 billion worth of crypto assets held at the time. The funds Satoshi allegedly owns have never moved during the past 13 years, and many believe Bitcoin’s creator won’t move the BTC under any circumstances.
While Nakamoto’s wealth has dropped significantly, it’s not the first time it has happened. The cryptocurrency creator’s net worth has dropped 70-80% lower several times since Bitcoin’s inception.
What do you think about Satoshi Nakamoto’s net worth dropping 70% in eight months? Let us know what you think about this subject in the comments section below.
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Source: https://news.bitcoin.com/satoshi-nakamoto-dropped-from-the-worlds-20th-richest-billionaire-to-the-79th-in-8-months/