Home > Cryptocurrency > Satoshi’s Billion Dollar Treasure

Some say that Satoshi Nakamoto, the infamous, and as yet unidentified, creator of Bitcoin, still holds millions of unspent bitcoins in wallets filled by the earliest bitcoin mining. While it is difficult to ascertain exactly which of those early wallets belong to Satoshi, it is mind boggling for most people to consider how much they are worth. Even at the low prices of the 2018 Bitcoin Bear Market, 1 Million BTC @ $3,500 would be worth a staggering $3.5 Billion Dollars.

And that isn’t including all the Hard Fork currencies like Bitcoin Cash and Bitcoin Gold.

Certainly enough for any potential supervillain to start twisting their mustache.

All you’d need is the Wallet Address and the Private Key. Sounds easy enough…

The most famous wallet address, and one which is known to be Satoshi’s would be 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. It is the Genesis Block Wallet Address where the first 50 bitcoins ever issued were sent on January 3, 2009. (If you look, it now holds 66.91735464 BTC due to donations from various individuals over the years.)

However, those 50 BTC from the Genesis Block, aka Block 0, were not added to the blockchain, and therefore cannot be spent. So a private key to access that wallet would do you no good.

Since Block 0 did not have a previous block to reference it required a bit of custom code not required by later blocks. After the Genesis Block, blocks 1 to 36288, for instance, there was only one significant miner, which is assumed to be Satoshi. Even then, all of the earliest mined bitcoins, though produced by one main miner, are divided amongst many addresses.

And for each address you’d need separate private keys to access the funds.

How hard is it to break a Bitcoin Private Key? That’s a discussion for another time. Let’s just say that with 115 quattuorvigintillion different combinations many people believe it is impossible.

Brute Force? Probably not.

For now Satoshi’s Billion Dollar Treasure is considered similar to being burnt, eliminating them from the future bitcoin cap of 21 million. And since I don’t believe that Satoshi was mining for profit, the BTC in those wallets will most likely remain untouched.

If they started getting sold, or even moved, it would be bearish for the market and potentially tank the price of Bitcoin. Anyone remember the Bear Whale Incident? That would be nothing compared to the reaction that movement of Satoshi’s BTC would cause.

If, however, someone could prove access, then permanently locked or burned them, this could be a bullish move for the market.

Or, somewhere in between, for those supervillains out there still twisting their mustache, one could spend or transfer some, adding a memo to the transaction to reassure the public that no large Bear Whale Event was going to happen. Perhaps donating it to various charities over time… But that’s not very supervillain’ish, is it?

If you are looking for a much easier treasure to fill your pockets with gold, head over to the Location of Forrest Fenn’s Treasure

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