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The Potential Impact on Bitcoin Price if Satoshi Nakamoto’s Identity is Revealed
The Potential Impact on Bitcoin Price if Satoshi Nakamoto’s Identity is Revealed
The price of Bitcoin could face negative consequences if the identity of its mysterious founder, Satoshi Nakamoto, is revealed, according to Ki Young Ju, the founder of blockchain analysis platform CryptoQuant.
Ki highlighted the potential downsides associated with determining whether Satoshi is alive or deceased.
“The disclosure of Satoshi’s identity could result in a decline,” Ki stated, further explaining:
“If he is alive, concerns will arise regarding wealth concentration. If he is deceased, questions about who inherited 9% of the total BTC supply will fuel conspiracy theories and divert discussions away from Bitcoin’s true purpose.”
Satoshi Nakamoto, whose identity remains unknown, mined Bitcoin during its early stages using a unique extranonce model. Ki emphasized that all of Satoshi’s wallets are known, and no Bitcoins from these wallets have ever been sold. Ki urged the community to respect Satoshi’s privacy, as it aligns with the principles on which Bitcoin was built:
“If you want to support Bitcoin, let’s respect its privacy. We are all Satoshi.
“We have knowledge of all of Satoshi’s wallets, which account for 9% of the total supply. Therefore, if a substantial amount is transferred from his wallet and sold, that’s when we leave the Bitcoin market. All of this information is transparently and immediately shared on the blockchain data.”
Ki also dismissed theories suggesting that the CIA has seized Bitcoin or that it is controlled by a specific individual, stating that blockchain technology originated from cryptography, a field that prioritizes privacy.
*This article does not provide investment advice.
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