Is Satoshi Nakamoto dead? Galaxy Digital CEO Mike Novogratz weighs in

During a recent interview discussing Bitcoin’s ascent to the 100k milestone, Mike Novogratz remarked that he suspects Satoshi Nakamoto is no longer alive. He said that Satoshi Nakamoto would take pride in Bitcoin’s significant achievements.

Novogratz said, “If Satoshi was alive (cause I don’t think he is), I’m sure that he’d have a big smile on his face.”

Satoshi Nakamoto, the creator of Bitcoin, is still one of the biggest mysteries in the tech world. At different points, there have been rumors linking various people with the pseudonymous identity of the blockchain innovator, especially well-known characters with interesting pasts. 

At the same time, investors and market analysts have different ideas about whether Satoshi is still alive. Hal Finney, one of the top Satoshi candidates, died in 2014. A recent HBO documentary said that the crypto’s author is a 39-year-old Canadian programmer named Peter Todd. Todd, however, rejected the claim, and the rest of the crypto world didn’t believe either.

Mike Novogratz discusses Satoshi Nakamoto and Bitcoin 

The Galaxy Digital CEO said that despite Satoshi’s initial perception of Bitcoin as a payment method, the original crypto ultimately evolved into “digital gold,”

He further stated that Bitcoin is “the greatest example” of a large coalition of individuals uniting to accomplish something “truly spectacular.” He clarified that the price of Bitcoin can only fall if the community decides to do so. However, as long as individuals choose to use it, it will not be affected.

In the interview, he said that Bitcoin would not be where it is now if people knew who Satoshi was. He said that the social construction, not the technology, is what gives something worth. “You say it is valuable. I say it is valuable. Therefore, it is valuable.”

He went on to say that people would be less likely to buy Bitcoin as a way to store their value if they knew who created it. He said, “There is something about the mystery of not knowing who Satoshi is.”

Investigations into the Satoshi Nakamoto mystery 

Bitcoin was first mined on Jan. 3, 2009, by “Satoshi Nakamoto,” a pseudonym for the person or group responsible for its creation.

Satoshi Nakamoto wrote a whitepaper called “Bitcoin: A Peer-to-Peer Electronic Cash System” and sent it to a cryptography email list months before the first Bitcoin was mined. The article, which came out on October 31, 2008, described a safe, decentralized peer-to-peer mechanism.

Dorian Nakamoto was also mistakenly identified as Satoshi. Nevertheless, he consistently denied any involvement. Then there is Len Sassaman, a renowned cypherpunk and cryptographer who has embraced privacy and whose technical abilities and ideals are in close alignment with Bitcoin’s ethics. 

Nick Szabo, Hal Finney, and Adam Back are additional names that are currently under speculation. Craig Wright, who has long asserted that he is Satoshi Nakamoto, was also involved in the Satoshi Nakamoto hunt. Recently, a UK court ruled that Craig is not Satoshi and ordered an end to all his delusions.

Nakamoto remains a mysterious figure.

Fomo warning to traders in Satoshi’s market 

Traders who are tempted to impulsively invest in Bitcoin (BTC) at record prices due to the “fear of missing out” (FOMO) should be aware that the market is currently exhibiting a significant degree of confusion, which is a departure from the recent strong bull momentum.

The confusion is evident in BTC’s trading on Thursday, as it eventually rose to six figures, reaching record highs near $103,900 before dropping to $91,100. Ultimately, the day ended at approximately $97,000 in UTC. According to on-chain data, the trading range was so extensive that it encompassed all price action since November 20.

The high wave candle, along with the bearish divergence observed in the relative strength index, a key momentum indicator, suggests a phase of consolidation or a potential short-term bearish shift in the market trend.

A bearish divergence occurs when the momentum oscillator, like the RSI, fails to validate the new price peak.

This cautionary signal is even more noteworthy because the pattern appears at record highs, indicating a failure to maintain advances over the widely watched $100K threshold.

It indicates that the bulls now have less than complete control, with sellers attempting to re-establish themselves. Investors looking to chase the market at this time should consider these indications. 

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