Summary
- It reported that the recent Bitcoin price decline caused about $47 billion of Satoshi Nakamoto's asset value to evaporate.
- Satoshi's estimated net worth is $90.7 billion, about a 34% decrease from the peak recorded in October last year.
- Meanwhile, buoyed by December rate-cut expectations, Bitcoin succeeded in rebounding and is currently trading in the $84,000 range.
As the price of Bitcoin (BTC) declined, the asset value believed to be held by Bitcoin's creator Satoshi Nakamoto also appeared to have significantly decreased.
On the 21st (local time), according to on-chain analysis platform Arkham (Akham), the recent sharp drop in Bitcoin's price caused the assets linked to Satoshi's addresses to decrease by about $47 billion. As a result, his estimated net worth fell to about $90.7 billion. This is about a 34% decrease from the all-time high of $137 billion recorded last October. The market-wide downturn has affected Satoshi's holdings as well.
Meanwhile, Bitcoin, which had been at risk of falling below $80,000, managed to rebound as hopes for a December rate cut revived. This was after John Williams, president of the Federal Reserve Bank of New York, said, "Current monetary policy is somewhat tight, but there is room to carry out a short-term rate cut."
On that day, Bitcoin was trading in the $84,000 range on the Binance Tether (USDT) market, down about 2.5% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
