New theory links Bitcoin megawhale to Satoshi Nakamoto

A new theory proposes that Bitcoin’s (CRYPTO:BTC) creator, Satoshi Nakamoto, may have been quietly liquidating holdings from 2010 wallets while leaving earlier wallets untouched.  

According to Bitcoin research firm BTCparser, this activity has been ongoing since November 2019 and involves a trove of wallets, each containing 50 Bitcoin.  

BTCparser’s research suggests that Nakamoto might be the so-called “2010 megawhale,” strategically cashing out while maintaining anonymity by avoiding the use of 2009-minted Bitcoin.  

“If Satoshi has access to a treasure trove of 2010-minted coins, there’s no need to touch the original 2009 wallets,” BTCparser stated in a November 19 post.  

This strategy reportedly reflects meticulous planning to preserve privacy and avoid drawing attention.  

The theory highlights four significant liquidation events.  

The first occurred in November 2019, involving $5 million in Bitcoin.  

Subsequent sales in March and October 2020 ranged from $6 million to $13 million.  

The most recent and largest sale, valued at $176 million, occurred on November 15, 2024.  

These transactions employed advanced wallet techniques, such as pooling funds into P2SH escrow addresses and distributing them to multiple bech32 addresses, which optimize block usage and lower fees.  

BTCparser speculated that Coinbase, the exchange where these Bitcoins were deposited, might have insights into the entity’s identity unless intermediaries were involved.  

The mystery of Satoshi Nakamoto’s identity remains one of Bitcoin’s most enduring enigmas.  

Over the years, figures such as Adam Back, Nick Szabo, and the late Hal Finney have been linked to Nakamoto, though all have denied the claims.  

Recently, an HBO documentary speculated on cypherpunk Peter Todd’s involvement, but this claim has been widely refuted.  

At the time of reporting, the Bitcoin price was $98,172.51.