Bitcoin

Bitcoin Creator was the 44th Richest Person in the World

With the hiking bitcoin prices, Satoshi Nakamoto, the pseudonym used by the bitcoin creator who is supposed to be a 37-year-old Japanese male, once made it to the list of top 50 richest personalities of the world. With the Bitcoin approaching $20,000 in the near past, Satoshi was rumored to be the 44th richest person in the world.

The unknown cryptocurrency trendsetter owns roughly 980,000 bitcoins out of which none has been spent according to reports since the creation of the world’s first cryptocurrency bitcoin. Recently, the bitcoin inventor, Satoshi, right behind Stefan Persson of H&M, Steve Jobs of Apple and Paul Allen of Microsoft, was ahead of the Saudi prince Alwaleed Bin Talal and Theo Albrecht of Germany.

READ ALSO: Belonging to No One, Bitcoin is the Currency for Everyone

The world has not stopped the search of reaching out to the true owner of the bitcoin and several conspiracy theories have revolved around Micheal Clear (Crypto Student), Vili Lehdonvirta (A game developer from Finland) and even Elon Musk of Tesla. Although none of the aforementioned personalities claimed to be the creator, in December 2015, Craig Steven Wright came forward and admitted that he created bitcoin.

Craig, an Australian businessman, was arrested from Sydney over his tax concerns, however, he was unable to prove that he owns bitcoin. Unable to sign the blockchain cryptographically which is the only way of finding bitcoin ownership, Craig lost his end of the bargain that he was the brain behind bitcoin.

According to Ronnie Moas, a researcher, the price of bitcoin will be as high as $400,000 in the long run. With more investors and the increasing adoption rate, the value of the currency has been increasing rapidly. Considering the hypothetical value of bitcoin to be $400,000, the market of bitcoin will be $8.1 billion i.e 1.4 trillion more than that of gold. At this theoretical value, Nakamoto would have a net worth of $392 Billion. If the owner of Bitcoin is one single person, this would be the first time an individual be crossing $100 Billion net worth.

The achievement of Satoshi Nakamoto’s bitcoin is far ahead of just an introduction of a cryptocurrency-based solution to world economic concerns. The owner has completely revolutionized the global finance industry by explaining that separation of money and state can be done through a peer to peer cryptocurrency. Let’s see of bitcoin surpassing its previous all-time high improves the rank of Satoshi in the list.

READ ALSO: Will Bitcoin Derive its Value from its Use as a Medium of Exchange?

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Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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