Satoshi's Bitcoin valuation down $20 billion after recent market plunge

The valuation of Bitcoins held by Satoshi Nakamoto, known as the creator of Bitcoin (BTC), has decreased by more than $20 billion.

On the 15th (local time), according to Cointelegraph, the wallet of Bitcoin's anonymous founder Satoshi Nakamoto was worth about $136 billion when Bitcoin's price hit an all-time high of $126,000 earlier this month, but it has now fallen to around $117.5 billion. According to Arkham Intelligence data, Satoshi holds more than 1,000,000 Bitcoins.

The decline was triggered by a cascade of futures market liquidations that followed U.S. President Donald Trump's post on October 8 suggesting additional tariffs on China. The remark raised fears of a renewed U.S.-China trade war, and $20 billion worth of liquidations occurred in a single day, marking the worst 24-hour liquidation event in cryptocurrency history. Some altcoins plunged more than 99%, but Bitcoin showed relatively strong resilience by holding the $100,000 level.

Meanwhile, The Kobeissi Letter evaluated the drop as "only a short-term correction, not a fundamental repricing." The Kobeissi Letter analyzed that excessive leverage and lack of liquidity increased market volatility and that Trump's remarks accelerated the plunge.

The Kobeissi Letter also said, "We expect a trade agreement to be reached eventually, and the cryptocurrency market's bullish trend will be maintained," adding, "We are still optimistic."