$100 Billion Satoshi Nakamoto Bitcoin Wallet Price Warning Issued After Mystery Deepens

February 10, 2025

02/10 update below. This post was originally published on February 9

Bitcoin has exploded back into the limelight following the election of Donald Trump—the self-declared crypto president whose return to the White House could trigger a bitcoin price boom.

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As a result, interest in the mystery of Satoshi Nakamoto—the creator of bitcoin whose real world identity has remained unknown even as the bitcoin price tops $100,000—has surged, with a HBO documentary last year claiming to have finally unmasked him.

Now, as Tesla billionaire Elon Musk confirms his bitcoin-inspired plans for the U.S. Treasury, a Coinbase executive has claimed Satoshi Nakamoto’s identity may be known by the rival crypto exchange Kraken—as fresh data puts his bitcoin stockpile at a value of over $100 billion.

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“I went through Satoshi Nakamoto’s wallets,” Coinbase director Conor Grogan posted to an X thread. “My best guess is that Satoshi was last active onchain in 2014 … He may have used a Canadian BTC exchange [and] Kraken may know the identity of Satoshi.”

Satoshi Nakamoto’s last known message, in which he claimed to have “moved on to other things,” was sent to bitcoin developer Mike Hearn via email in 2011.

02/10 update: Paolo Ardoino, the chief executive of the $141 billion USDT stablecoin issuer Tether, has warned quantum computing will eventually hack inactive bitcoin wallets, possibly returning the $100 billion worth of bitcoin in wallets believed to be owned by bitcoin’s mysterious creator Satoshi Nakamoto to circulation.

“Any bitcoin in lost wallets, including Satoshi (if not alive), will be hacked and put back in circulation,” Ardoino posted to X, adding: “Quantum computing is still very far from any meaningful risk of breaking bitcoin cryptography [and] quantum resistant addresses will eventually be added to bitcoin before there is any serious threat.”

However, Ardoino expects that “all people alive (and that have access to their wallets) will move bitcoin into new quantum resistant addresses.”

There have recently been some major advances in the field of quantum computing, putting some expectations of the first fully-fledged quatum computers arriving within the next ten years.

“We are about five years away from commercial quantum computers being able to break the elliptic curve keys that secure bitcoin wallets,” University of Calgary scientist-in-residence Pierre-Luc Dallaire-Demers, toldDL News.

Last month, Tether said it had recorded an eye-watering $13 billion in profit through 2024 from a combination of its bitcoin, gold, U.S. Treasury bonds and other financial instruments, according to an “attestation” released by Italy-based accounting company BDO.

Grogan identified a bitcoin address linked to the Canada-based crypto exchange CaVirtEx. “I believe this is the first documented onchain between a Satoshi-linked wallet and a CEX [centralized exchang],” he posted in the X thread.

CaVirtEx was bought by the U.S. crypto exchange Kraken in 2016 and Grogan speculated cofounder Jesse Powell or others at Kraken may know the true identity of Satoshi Nakamoto via customer information connected to the wallet.

“My advice to him would be to delete the data,” Grogan wrote.

Satoshi Nakamoto has successfully kept their real identity hidden since they published bitcoin’s white paper in 2008 as bitcoin has become a $2 trillion asset.

Bitcoin’s price rise has made the man, woman or group known only as Satoshi Nakamoto potentially worth around $100 billion if they still control the bitcoins they’re believed to hold across a series of wallet addresses.

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Responding to Grogan, Kraken’s official X account posted: “We are all Satoshi,” a bitcoin community meme that can mean a combination of “Satoshi Nakamoto’s real world identity isn’t important,” and “if Satoshi Nakamoto didn’t want to be found, people shouldn’t be looking.”

The fresh evidence uses the so-called “Patoshi Pattern” bitcoin addresses cataloged by the blockchain analytics platform Arkham Intelligence. Earlier this week, Arkham analysts revealed they had linked new wallets to Satoshi Nakamoto.

“We’ve added an additional 22,000 Satoshi addresses with a total bitcoin balance of 1,096,354 to the Satoshi Nakamoto entity on Arkham,” the researchers posted to X. “These are derived from a known mining pattern referred to as the Patoshi Pattern, and include the only (known) addresses from which Satoshi spent bitcoin from.”