With the massive hike in Bitcoin Price above $6000USD, cryptocurrency powered millionaires are becoming a common phenomenon worldwide. Given such a win-win scenario, can you even think about the current holdings of the anonymous inventor of Bitcoin, Satoshi Nakamoto? Well hold on to your seat belts as in our today’s article we will unfurl the mysteries surrounding his massive corpus. If reports are to be believed, then Bitcoin has imparted to this tech nerd a holding of over $6 billion USD thus making him a probable entrant in Forbes’ list of richest individuals. Satoshi Nakamoto’s holding of an estimated 100,000 Bitcoins can secure his position in the 237th place of the Forbes’ list.
His position would be tied along with Johann Rupert, a South African business tycoon and Jorn Rausing, a Swedish heir and businessman. Satoshi Nakamoto will enjoy higher ranking compared to Ann Walkton Kroenke the Walmart heiress, Andrew ‘Twiggy’ Forest the Australian mining magnate and Joseph Tsai of Alibaba. It is estimated that Satoshi Nakomoto holds about 5.89% of the 16.6 million Bitcoins in circulation. Bitfinex’s cold storage wallet, which is the largest single bitcoin wallet comprises of 1% of the total supply with a holding exceeding 168000 bitcoins. U.S. government previously owned the largest bitcoin wallet after 144336 bitcoins were seized by the FBI from The Silk Road, an anonymous free market.
With rising price in Bitcoins and hiked up purchase level, the market capitalization of Bitcoin is near $100 Billion USD. Had Bitcoin been a company, it would have ranked at the 73rd place when positioned as per market cap. This would have imparted to Bitcoin a higher rank in comparison to China Petroleum & Chemical, Goldman Sachs and Bayer.
Starting from October 15th, the market capitalization of Bitcoin has grown by more than 8% whereas the aggregate market cap of all cryptocurrencies in circulation has constricted by 1%. In monetary figures the fall can be registered as from $175.2 billion USD to $173.4 billion USD. This holistic decline in market cap is a clear indication of the fact that Bitcoin is gaining back its market dominance over altcoins. Compared to 54.4% market dominance of Bitcoins in the Cryptocurrency market on October 15, the current Bitcoin dominance rate is 59.1%. The new found dominance could have been powered by the capital shifting of traders into Bitcoin territory following its massive price hike.
Also Read: Top 5 Reasons Why Bitcoin Price Is Increasing
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