New Satoshi theory suggests it’s been the ‘2010 megawhale’ all along

As an analyst with over two decades of experience in the digital technology and finance sectors, I have seen my fair share of intriguing theories and revelations. However, the latest theory about Satoshi Nakamoto, the Bitcoin creator, has caught my attention. The idea that Nakamoto could be strategically cashing out from early Bitcoin wallets since 2019 is quite fascinating, especially if it’s true that these wallets were created in 2010 and hold a significant amount of BTC.

As a long-time crypto enthusiast, I’ve recently come across an intriguing hypothesis: The creator of Bitcoin may not have gone silent, but rather has been methodically offloading Bitcoins from early wallets since 2019. This theory adds a new layer to the ongoing mystery surrounding Satoshi Nakamoto’s identity.

In my recent research, I’ve discovered an intriguing finding. Back in 2010, a significant number of Bitcoin (BTC) wallets were created, each containing 50 Bitcoins. Remarkably, these wallets remained untouched until the first major activity was observed in November 2019, a period often referred to as the “awakening.” This group of dormant wallets from 2010 has been dubbed the “2010 megawhale” by Bitcoin research firm BTCparser.

According to the hypothesis put forward by BTCparser, it is believed that Nakamoto was the owner of these particular wallets and strategically unloaded their Bitcoin over time, choosing to keep untouched the wallets created in 2009 to prevent suspicion from arising.

BTCParser’s Nov. 19 post suggests there may be reason to believe that the mysterious 2010 ‘megawhale’ could potentially be identified as Satoshi.

However, it just remains a “theory, not a conclusion,” BTCparser stressed.

If Satoshi Nakamoto is indeed the owner of these 2010 Bitcoin wallets, it suggests a careful and thoughtful planner who took great measures to safeguard their identity. – BTCparser’s statement, paraphrased.

“If Satoshi has access to a treasure trove of 2010-minted coins, there’s no need to touch the original 2009 wallets. Using these later coins avoids drawing attention to the original stash, preserving anonymity and reducing the risk of revealing Satoshi’s identity.”

How the funds were liquidated

The funds were pooled into a single P2SH address, typically used as an escrow, before being sent to multiple bech32 addresses — an address type offering low transaction fees and effective use of block space.

5 million dollars’ worth of Bitcoin held in those accounts were offloaded for the first time in November 2019. Subsequent sales, totaling between 6 to 8 million and 11 to 13 million dollars, occurred in March and October 2020 respectively.

The fourth sale was the $176 million liquidation that occurred 10 days ago, on Nov. 15, 2024.

“The increasing sales volumes align with Bitcoin’s rising value, suggesting that this whale has been cashing out strategically.”

As a researcher, I’ve found that BTCparser suggests that the entity behind these transactions might be better known to Coinbase, the cryptocurrency exchange where these coins were deposited. This could imply that they have more information about the individual or group involved in these transactions, unless, of course, this ‘whale’ is using intermediaries to conduct their operations.

In October, a controversial HBO documentary claimed Bitcoin cypherpunk Peter Todd invented Bitcoin.

Contrarily to what HBO suggested, he firmly disputed their findings. While many experts in the field considered HBO’s evidence as relatively insubstantial.

Nick Szabo, Adam Back, and Hal Finney have had their names tied to Satoshi’s identity.

Szabo and Back regularly refute claims they’re Satoshi, as did Finney before he died in 2013.

2024-11-25 08:35

How the funds were liquidated

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