Bitcoin: Satoshi's Stash Drops Below $100 Billion as BTC Price Takes Hit - U.Today

The BTC stash of Bitcoin pseudonymous creator Satoshi Nakamoto has fallen below the $100 billion mark following a drop in Bitcoin’s price.

At a current Bitcoin price of $90,556, Satoshi’s Bitcoin holdings currently amount to $99.28 billion ($99,281,829,913), according to Arkham data.

Satoshi’s wallet, which has been untouched since 2010, holds about 1.1 million Bitcoins, with Arkham reporting 1.096 million BTC in the Bitcoin creator’s wallets.

The current $99.28 billion in Satoshi wallets is significantly less than the $137 billion reached last October, when Bitcoin surpassed $126,000.

Last October, Bitcoin hit a record high of $126,198 before falling later in the year to lows of around $80,000. At current prices, Bitcoin is down 28.35% from its recent all-time high.

Despite the drop in the dollar value of the Bitcoin creator’s BTC stash, Satoshi Nakamoto is deemed the richest holder of crypto in the world, according to an Arkham report. The entirety of this wealth is from the Bitcoin mined from 2009 and 2010, which is stored across 22,000 addresses.

According to the Bloomberg Billionaire’s Index, this puts Satoshi Nakamoto on the list of the top 20 richest people in the world.

Bitcoin price action

BTC fell to a low of $89,583 early Friday, extending its drop from a Jan. 5 high of $94,825 into the fourth day.

Bitcoin remains within the price range that has defined the market since late November. At press time, the largest cryptocurrency is currently a tick above $90,000.

The lack of trading activity coupled with low liquidity has led to choppy price action across Bitcoin and altcoins, with price increases over the past few months rapidly getting reversed, punishing leveraged traders.

The U.S. labor market produced mixed data in December; nonfarm payrolls increased by 50,000 last month, according to a Bureau of Labor Statistics report released Friday morning. That was lower than economists’ forecasts for 60,000. Bitcoin continued to hold just above $90,000 shortly after the report.