Bitcoin News Today: Bitcoin's $121B Founder May Emerge When Quantum Threat Strikes

SharpLink Gaming co-CEO Joseph Chalom has proposed a speculative theory that Bitcoin’s anonymous founder, Satoshi Nakamoto, may reveal himself when the cryptocurrency faces an existential threat from quantum computing. This potential moment, Chalom suggests, could arise in five to ten years, as the Bitcoin network attempts to implement quantum-resistant protocols or hard forks. At stake are significant financial decisions, including the handling of dormant wallets and whether to alter the encryption standards that underpin the network [1].

Chalom’s theory stems from the growing concern that quantum computing could pose a significant risk to Bitcoin’s cryptographic security. While the technology is still in its early stages, some experts warn of an "existential crisis" for the cryptocurrency if quantum computers become powerful enough to crack its encryption methods. In response, the community has debated solutions such as quantum-proofing through protocol upgrades or freezing vulnerable coins. According to Chalom, Satoshi may be incentivized to reemerge during such a critical juncture to assert control over these decisions or to protect his own assets [1].

Satoshi’s presumed holdings, attributed to several dormant wallets identified by the so-called Patoshi Pattern, currently amount to 1.096 million BTC. With Bitcoin trading at approximately $111,000 per coin, this represents a theoretical net worth of around $121.9 billion. This valuation places Nakamoto among the top 12 wealthiest individuals globally, according to Forbes. Should the price of Bitcoin rise by approximately 23%—a scenario that 90% of respondents on Myriad believe is unlikely by September—Satoshi would surpass the $150 billion threshold and enter the top ten on the global wealth list [1].

Despite the size of his hypothetical fortune, the exact amount of Bitcoin controlled by Nakamoto remains uncertain. Alternative estimates suggest a slightly smaller holding of around 968,000 BTC, worth approximately $106 billion. Regardless of the precise figure, the dormant nature of these holdings has made them one of the most enigmatic aspects of the cryptocurrency world. The fact that these coins have not been moved since their creation only deepens the mystery, as it leaves them untouched by the volatility and trading dynamics that define much of the crypto market [2].

Chalom’s theory is speculative and, as he himself acknowledges, is another addition to the long-standing pool of Satoshi-related speculation. However, his remarks have rekindled interest in the possibility that the creator of Bitcoin may yet step into the public eye under extraordinary circumstances. If Nakamoto were to reveal himself, Chalom suggests it would likely occur through old accounts that have not been active for years—possibly the very ones associated with the Patoshi Pattern. Such a revelation, if it were to happen, would have profound implications for both the Bitcoin network and the broader cryptocurrency ecosystem [1].

Meanwhile, Hollywood appears to be capitalizing on the intrigue surrounding Nakamoto. A new film titled Killing Satoshi, directed by Doug Liman of The Bourne Identity and Mr. & Mrs. Smith, is set to explore the conspiracy surrounding Bitcoin’s creator. Starring Casey Affleck and Pete Davidson, the film aims to present the story in a manner reminiscent of The Social Network, blending political intrigue, espionage, and the global struggle over control of digital money. The project underscores how the mystery of Satoshi Nakamoto has transcended the crypto world and entered mainstream culture [3].

Source:

[1] Why SharpLink's CEO Thinks Bitcoin Creator Satoshi ... (https://finance.yahoo.com/news/why-sharplinks-ceo-thinks-bitcoin-142135687.html)

[2] How Rich Is Bitcoin's Creator Satoshi Nakamoto Today? (https://cryptodnes.bg/en/how-rich-is-bitcoins-creator-satoshi-nakamoto-today/)

[3] Hollywood to Produce Thriller on Satoshi Nakamoto (https://forklog.com/en/hollywood-to-produce-thriller-on-satoshi-nakamoto/)