Bitcoin's anonymous creator, Nakamoto climbs to 11th richest spot with Bitcoin wealth

Satoshi Nakamoto, the anonymous creator of Bitcoin, is the 11th richest man in the world. His fortune of 1.096 million BTC currently equates to $129.23 billion based on data from Arkham Intelligence.

Although Forbes’s real-time billionaire tracker doesn’t officially include Satoshi Nakamoto, its data would place him in 11th position. In that spot, he’d surpass Michael Dell, whose net worth is $125.1 billion. Sergey Brin currently holds 10th place with $140.3 billion.

In order for Satoshi Nakamoto to become the richest man in the world and take Elon Musk’s spot, the price of a single Bitcoin needs to be around $366,241. This will make his Bitcoin holdings of 1.095 million BTC equivalent to roughly $401.0 billion. To reach that valuation, each Bitcoin would need to rally by more than 180% from its present price.

Analyst predicts Bitcoin at $400,000 

Months ago, anonymous crypto trader apsk32 predicted that Bitcoin would hit the $400,000 price point. His prediction is based on a mathematical model of network growth.

The analyst created a model that consists of three plots. The first plot shows historical gold prices in US dollars per ounce. The second plot shows Bitcoin’s market capitalization against the price of gold.

Apsk32 stated that BTC is following the path of gold, which hit an all-time high of $3,500.05 per ounce. He explained that modeling Bitcoin’s price against the US dollar doesn’t make sense, as the Federal Reserve will continue to print money. 

The growth of Bitcoin’s market capitalization measured in gold ounces follows a straight line, which is clear in the top-left plot. This straight line suggests that Bitcoin follows a power law, aligning with Metcalfe’s Law of network growth.

The analyst then calculated Bitcoin’s implied prices in US dollars based on BTC’s supply at every point in time and gold’s historical data. 

In the third plot, he created a log plot like Bitcoin’s famous Rainbow price chart, but added Bitcoin’s implied prices over the past 16 years. In terms of support bands, he added a blue band named “years-ahead.” The support bands “years-ahead” range from 0 through 5 years ahead of the underlying implied BTC price or power line.

According to historical data, Bitcoin’s price has stayed below the five-years-ahead line, even during previous bubbles. This framework identifies realistic BTC price ranges and shows that, for this cycle, the one-year-ahead band lines up at around $400,000. Reaching that BTC price target would make Satoshi Nakamoto the richest person on Earth.

In the past 7 days, Bitcoin has gained over 9.6%, jumping from $108,301 to its all-time high of $118,667 based on CoinGecko data. Currently, Bitcoin trades at $117,934 with a 24-hour trading volume of $19.8 billion. The crypto king has a market capitalization of $2.343 trillion with 19,891,615 coins in circulation.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now