A new theory has emerged regarding the origins of Bitcoin , suggesting that Satoshi Nakamoto, the pseudonymous creator of the cryptocurrency, has remained active rather than going dormant. According to research from the firm BTCparser, a collection of Bitcoin wallets established in 2010, each holding 50 Bitcoin , began to see activity in November 2019. This phenomenon has been referred to as the “2010 megawhale,” leading to speculation that Nakamoto might be behind these wallets and has been gradually selling their holdings without disturbing the original wallets from 2009.
BTCparser posits that if Satoshi is indeed controlling these 2010 wallets, it implies a highly strategic approach aimed at preserving anonymity. By utilizing these later wallets for cashing out, Nakamoto could effectively keep the original 2009 wallets intact, thereby minimizing attention and risks associated with revealing their identity. The careful management of these assets showcases a deliberate effort to maintain privacy in the trading of Bitcoin .
The analysis details how these funds were liquidated: they were initially consolidated into a single P2SH address, often employed for escrow purposes, and later distributed across multiple low-fee bech32 addresses. The first significant cash out from these wallets took place in November 2019, amounting to approximately $5 million, followed by additional sales in March and October 2020, which ranged from $6 – 8 million to $11 – 13 million, respectively. Most recently, on November 15, 2024, a massive liquidation of $176 million occurred.
The increasing volumes of Bitcoin sold correlate with the rising value of the cryptocurrency, suggesting that the holder has been engaging in these transactions strategically. It is also noted that Coinbase, the platform where these coins have been directed, may possess more information about the individual or group behind these activities unless intermediaries are being utilized. In recent months, speculations surrounding the true identity of Satoshi Nakamoto have reignited, especially following claims made in a documentary that attributed the creation of Bitcoin to another figure in the crypto space, which have since been dismissed by many industry observers.
