Bitcoin Soars To New Record High - Mysterious Creator Satoshi Now Worth Over $7 Billion

Tyler Durden's picture

Another crisis in another nation and Bitcoin prices surge to another new high. Overnight chaos in Saudi Arabia have prompted Bitcoin to jump to $7590 - a new record high - ironically as prince bin-Talal is arrested for money-laundering a week after calling Bitcoin "a fraud like Enron." With a market cap over $125 billion, the cryptocurrency's mysterious creator is now worth over $7 billion.

Oh the irony.

A week ago Saudi prince Alwaled bin-Talal made headlines around the world proclaiming that:

"I just don’t believe in this bitcoin thing. I think it’s just going to implode one day. I think this is Enron in the making."

 

"It just doesn’t make sense. This thing is not regulated, it’s not under control, it’s not under the supervision" of any central bank.

And now, a week later he is arrested on money-laundering charges and has had his bank accounts frozen... which would not have been a problem if he had some of his wealth in cryptocurrencies.

The uncertainty surrounding the Saudi king's moves prompted a further bid in Bitcoin to new highs (after a week of headlines pushed the crypto currency higher)...

 

This pushes Bitcoin's market cap to $125 billion - on par with Nvidia - who produce so many of the rigs used for mining the cryptocurrency...

As a result, Yahoo reports that one of Bitcoin’s largest holders appears to now be worth over $7 billion.

In 2013, Bitcoin watcher and head of cryptocurrency firm rsk.co Sergio Lerner wrote a series of blog posts explaining why he believes an account holding 980,000 individual Bitcoins belongs to Bitcoin’s mysterious founder, Satoshi Nakamoto.

Lerner analyzed the path of the first Bitcoins ever created, or “mined,” and traced them to a single mining source. Lerner then correlated this source to about 19,600 other Bitcoin “blocks,” which were actually just sets of cryptographic puzzles that, when solved, were worth 50 Bitcoins in 2010.

This mining entity stopped at 19,600, and never moved any of the Bitcoins it had earned. Lerner believed anyone who wasn’t Satoshi would have almost certainly tried to sell at least some of the Bitcoins, to take profits on what turned out to be as successful, if speculative, investment.

The fact that none of the Bitcoins have been touched suggests the miner has “shown complete trust in Bitcoin” and is almost certainly therefore Satoshi,” according to Lerner.

Nolan Bauerle, researcher at bitcoin news and research group CoinDesk, says that Lerner’s analysis is generally accepted as accurate within the Bitcoin community.

In an email, Lerner told MONEY that since he published his original posts,”Nothing has changed about the supposed Satoshi holdings” and that “no additional coin has been spent and no research has revealed anything else about them.”

Hence, the alleged Satoshi stash still contains 980,000 Bitcoins which at current prices are worth more than $7.2 billion.

So, who is Satoshi Nakamoto? There have been multiple claims to his identity. In 2014, Newsweek fingered a California man named Dorian Satoshi Nakamoto, who vigorously denied the report.

Then in 2016, an Australian named Craig Wright claimed he had invented the cryptocurrency. But other observerspointed out inconsistencies in the evidence Wright used and other elements known about “Satoshi’s” backstory, leading many to conclude it wasn’t him.

So, there is still no agreement on who the real Satoshi is - or, for that matter, whether he (or she) is the holder of the account Lerner analyzed.

But someone is sitting on over $7 billion in Bitcoin... and it's not Prince Alwaleed bin-Talal.

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Son of Captain Nemo's picture

Is "SATOSHI" Max Keiser or his boss George Soros?!!!

ArmaG3don's picture

I call BS as soon as DXY is removed it'll be total massacre. I just.. I just.. I just can't think of it in reality terms since i'm not on drugs.

BaBaBouy's picture

Im more and More believing Bitcoinz is a Proxy for PHYS GOLD ~

beemasters's picture

Could all this be due to KSA princes crackdown and now the Paradise Papers?

mpnut's picture

Could it be that BTC is ShadowGov't..

 

Bunga Bunga's picture

The NWO will be crypto, led by the new elites replacing the old fiat elites.

HRClinton's picture

No, I'm cynical and experienced enough to know that (((TPTB))) are letting "BTC et al" become widespread and accepted enough, before they take it over.  They always have, and I assume that they can afford a lot of brains who are a lot smarter than bloggers on ZH.

(Even though I'm a pretty smart MFer, I do not presume to be able to outfox them forever. Just long enough... to say "So long and thanks for all the sushi")

Bigly's picture

Quantum computers will crack the encryption wide open, imo.

----

Is fonestar satoshi's 'grasshopper'?

Exponere Mendaces's picture

N - Non-inflated

W - Worldwide acceptance

O - Obsoletes fiat (and gold too)

You idiots don't even have new shit to lean on, those crutches are getting awfully janky and creaky.

Senility must be a real force, judging by most of the clueless idiots posting in here.

VD's picture

the irony of all ironies will occur at a later date.

 

for now, the greater fools are piling in off of china & institutional pumpers. "investing" in price and not value, as transaction volume, velocity and demand do not jive w/ current speculative moves. but hey, the irrational Lambo dreams are hard to reason with.

 

& yes, this is the ultimate NWO currency. you have morons like Keiser shamelessly shilling btc a la silver. it's absoultey disgusting, and irresponsible, esp after his silver "investing" disaster.

 

if you know about crypto, then you know that bitcoin is really segwitcoin (vs bch, which is the true "Satoshi" coin today) and segwitcoin is already a bankster compromised ledger (which the btc community swore they'd never allow into the blockchain). it's all there if you can see.

Son of Captain Nemo's picture

The PRC as well as Russia and Iran are being smart about it allowing the U.S. to indulge itself to just a little moar "rope" before the OFFICIAL "CHECK OUT"! And "Buttcoin" is that additional 6 inches of rope beyond the 6 ' it already has!...

Case in point (https://southfront.org/new-war-lebanon-syria-iraq-beyond-way/). The U.S. is indeed SUICIDAL as are it's partner(s) in Tel Aviv and London with the EU being the biggest "question mark"!

Let's pray to God that there is enough resentment from the German and Japanese people after 72 years of occupation they will finally say they've had enough and "SNAP" and call it a day with "Americaner"!...

But then again why didn't the Japanese do it already after Magna BSP unloaded on them with 3/11 over the threat of de-pegging the Yen to the dollar and giving enriched uranium to the Iranians in 2010 which was of course WHY they were punished?!!!

If you are willing to put up with that I guess you'll be willing to take WORSE?!!!

VD's picture

the tylerz are operating on very base level binary either/or thinking; eg prince said btc fraud/prince imprisoned; btc new ath/prince comment "ironic". but they fail to mention that said prince was trying to westernize Saudi Barbaria vs the terrorist Wahabi leadership and CIA partners in crime.

tmosley's picture

>morons like Keiser

>Bitcoin worth more than 200x what it was when he started talking about it

WEW.

VD's picture

silver more than doubled under his shilling too. 

 

it's easy to be selective at your price points. this tragedy hasn't ended yet. this is silver to the Nth analogue. a bigger, better trap so to speak, minus the 6k years tradition as store of value. it's still being pumped hard.

& i like blockchain as a clearing solution very much, a bottom layer for transactions which may be referenced by all for transparancy sake, but as a monetization into "coins" i am more than dubious. esp segwitcoin.

tmosley's picture

I like how you came to your conclusion first, then started doing research to support it, then slowly started changing your conclusion.

One day, you might actually let the facts dictate your beliefs wholesale!

Peanutz take note, tmosley becomes a much richer man the day bitcoin fails. The alts are poised to benefit, and I own plenty of them.

VD's picture

my research was done a while back. my conclusion has remained consistent. i'll spell it out for you again re: alt-coins: i do not consider them investment-worthy and i don't speculate. i only bring up bch bc it is superior to btc, but that doesn't mean it is a good store of value. if you want to speculate in ledgers, that's great. to me, they're all shitcoins and a dangerous harbinger of cashless world. the gov will control this whole space at some point, and you can rant and rave that this time will be different and sling insults, but that's more your desperation and lack of historic appreciation; eg when Lloyd brings up btc he is open to it knowing full well that it will be co-opted -- now i don't know if he even appreciates that segwitcoin is already compromised by his cabal or not & that's ultimately moot.

anyhow, to each his own. we'll see how this newest experiment ends. I played devil's advocate when irresponsible zealot shills screamed silver to $60 crash jpm & i'm playing devil's advocate with this latest craze du jour.

tmosley's picture

>my conclusion has remained consistent

Of course it has. You are unenlightened, so you can't fully change your mind. Half measures only. "Blockchain is good" "It's the new segwit coin that is bad"

All the while, everyone is laughing at you.

VD's picture

segwitcoin is not new; itz the original btc actually that was meddled with, more at hacked, by Blockstream which is bankster alligned. keep projecting on everyone though.

 

& when i say blockchain is good i say it in a very specific manner, which you of course leave out making it sound general.

 

i'll go back to ignoring you now.

VD's picture

to sit on zh day and night and insult ppl that don't agree w/ your thesis is the definition of both insanity and lameness.

HRClinton's picture

I swear (all the damn time!) sometimes, that (((TPTB)) sometimes mess with libertarians on ZH, just to get their kicks.

What a better way to have a cruel belly-aching ROTF LMAO, than to egg us on into loser investment choices.  E.g.

   > Stay out of the Stock Market! (2009-1017)

   > Buy PM, BTFD! (2012-2017)

   > Avoid Crypto! (2013-2017)

These are all the memes that many ZH bloggers have flogged for several years.  All those who listened to these assholes, have lost BIGLY in investment opportunities, or sunk their hard-earned cash in things that went downhill or nowhere: PM.

Food for thought, if you can handle the Cog Dis, or if you're REALLY paranoid as to how evil and devious (((TPTB) can be, and fuck with you Goys.

Bigly's picture

As with everything, timing is everything. Your list is both right and wrong depending on when you look at it. Last year, now, 5 years from now? Who knows?

jimmy c korn's picture

"the cryptocurrency's mysterious creator is now worth over $7 billion"

He's that all seeing eye at the top of the pyramid.

Bunga Bunga's picture

Calm down, they are just the new elites. Buffett, Gates and others will be of way lower rank in this NWO soon.

Slomotrainwreck's picture

Whatever happened to the hundreds of thousand bitcoins that the US stole from Mt Gox? Whatever government agency has them will be in a position to manipulate.

Thinkpad's picture

The govt auctioned them off in July 2014 proceeds used to pay off creditors

Youri Carma's picture

Max is a smart guy but not a coder so not Satoshi.

Exponere Mendaces's picture

Not this retard again.

Got any other wild theories grandpa? Before the asylum staff find you and your computer again...

Pumpkin's picture

Smells like tulips.

Seasmoke's picture

Are you not counting all the Gold Satoshi is holding ???

Calculus99's picture

Satoshi is either dead (and his passwords lost) or he's lost his passwords/hardware failure of some sort. 

You don't get given for free basically a multi-billion fortune and not at least withdraw some in over a decade.

And what if Satoshi is the NSA/CIA/Mossad/(nasty) Russians et al? 

You still don't leave multi-billions lying around gathering dust...

dark pools of soros's picture

there are some really smart and reclusive math geniuses out there... some that are basically mental patients that cant socialize at all

VD's picture

tru. Grigori Perelman comes to mind.

Billy the Poet's picture

there are some really smart and reclusive math geniuses out there... some that are basically mental patients that cant socialize at all

 

All the more reason to cash out and build a forbidden city somewhere.

herkomilchen's picture

If he touches it, his identity is all but compromised.  Governments will throw the kitchen sink into tracking back to him anything he tries to spend it on.  As far as what happens to him after they find him, remember the story of Prometheus.

OhNo's picture

Satoshi = Deep State CIA, only one way to bring in a One World Currency and that"s cripto and suck all the plebs in with the dream of easy riches and false security and privacy, Even just to buy bitcoins in OZ you need a email and phone number to buy bitcoins and they contact and verify its you, won"t be long till the enchange company asks for your licence number like phone Sim card registration.

Bunga Bunga's picture

I highly doubt that the "Deep State CIA" has the capacity and smartness to create something like Bitcoin. They are too busy with their wars around the world, they are stuck with 20th century thinking and politics.

Exponere Mendaces's picture

Don't worry, we know what "cripto" is (lol, get it right you retard) and we know why "enchanges" use KYC/AML policies.

You clearly are working on mastering english, so we'll leave you be until you get that part down.

Try not to suffocate on any dry-cleaner bags, since you're low on brain cells.

 

Mr_Potatohead's picture

Given how much money SATOSHI has attracted into Bitcoin at the expense of more traditional bets against fiat currency, I'll be "he" is worth a helluvalot more than 7 billion right now.

Yellow_Snow's picture

Prince Alwaled bin-Talal struck down by the BTC curse !!!

Bunga Bunga's picture

No he thinks differently for sure.

English herbsman's picture

Satoshi doesn't exist. Crypto is the blue print for a Single Global Currency, controlled, Monitered and Taxed by the Elite.

The banning of cash and gold will come soon, this will be forced upon us. 

VD's picture

correct. these crazy parabolic price moves are there to mesmerize the masses of get rich quick dreams, replete with Lambo's, filet mignon dinners for life, and gold-digging model girlfriends.

 

the PANLEDGER of the PANOPTICON Deep State.

Exponere Mendaces's picture

Only someone named after an infectious sexually transmitted disease would entertain a "mesmerizing price rally" theory.

What's your encore, shoving gold beads up your ass to become your own "deposit box"?

What a tard...

 

Yellow_Snow's picture

Then why did the NSA spend millions of dollars to find out his identity?

jimmy c korn's picture

Guess the real question is- why is he hiding, other than tax evasion, money laundering and or other illegal activity on the dark web. When that news breaks, I wonder will bitcoin soar another $1000? 

Yellow_Snow's picture

The last emails he sent were to a software developer in April 23 2011...

Pernicious Gold Phallusy's picture

Aha! 447 years after Shakespeare's birth and 395 years after his death! I have found the clues! <mad scientist laugh>