Bitcoin

Satoshi Nakamoto Turns 48, Mysterious Bitcoin Creator Celebrates

04/06/2023
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Satoshi Nakamoto

Mysterious Bitcoin creator Satoshi Nakamoto turned 48 on April 5th. The mysterious individual or group of individuals picked out April 5 to be the day they celebrate their birthday. Surprisingly, on April 5, 1933, the U.S government put a ban on individual gold storage in order to prop up the U.S dollar. Satoshi Nakamoto chose this controversial date as his birthday. He disclosed his birthday on the P2P Foundation forum, as the sole purpose of Bitcoin was to highlight the dark side of the centralized financial system.

Prez Franklin Issued Executive Order 6102

President Franklin Delano Roosevelt issued Executive Order 6102, dated April 5, 1933. The order forbids hoarding of gold coins, gold bullion and gold certificates by virtue of the authority. No citizen was allowed to own more than $100 in gold coins, although special or rare coins with special value to the collectors were excluded. The step was taken to prop up the U.S dollar amid peak inflation. 

Using the instance as an inspiration, Satoshi Nakamoto wished to create a medium of exchange that was fully digitalized and decentralized, while maintaining the anonymity of the parties involved. With this aim in mind, he created Bitcoin and selected the dates as his birthday. 

Bitcoin Price on Nakamoto’s Birthday

Source: BTC/USDT by TradingView

BTC price flared a bull flag, whereby the pole was formed after finding support at $19,275.02 and forming sideways movement. The bullish price tested the resistance near $28,500 several times, but faced constant rejection. The present price action again faced rejection and dropped slightly. The falling BTC price may soon breach the resistance to claim the $30,000 price level. The MACD formed a negative cross and recorded minimal sellers bars as the volume showed extremely low engagement. The RSI slid slightly from the ceiling range, suggesting declined buyers. 

Bitcoin Community Hosts a Party

The Bitcoin creator’s birthday is celebrated by the crypto community across the globe. In honor of Satoshi Nakamoto, Hungary built a statue dedicating it to all Bitcoin supporters. The statue was built by the BTC army and was appreciated by all supporters. 

Meanwhile, Switzerland’s 5th largest bank PostFinance launched Bitcoin trading and custody services. The newly launched services are open to 2.5 million customers of the PostFinance Bank, which is wholly owned by the Swiss government. 

Conclusion

Bitcoin creation gave the crypto industry a boost and established new standards for a digital asset to function. The anonymous creator of Bitcoin, Satoshi Nakamoto turned 48 years old on April 5, and the BTC community celebrated his birth anniversary all over the world. BTC price showed delayed celebration, but a full-blown high run will be observed once the major resistance near $28,500 is breached. 

Source: https://www.thecoinrepublic.com/2023/04/06/satoshi-nakamoto-turns-48-mysterious-bitcoin-creator-celebrates/