A new theory suggests that Bitcoin creator Satoshi Nakamoto has not remained dormant but has been quietly selling Bitcoin from 2010-era wallets since 2019, avoiding attention by steering clear of the original 2009 wallets.
The Theory
On November 19, Bitcoin research firm BTCparser proposed that a group of 2010 Bitcoin wallets, each holding 50 BTC, started becoming active in November 2019 after nearly a decade of inactivity. BTCparser calls this entity the "2010 whale" and hypothesizes that it may be Satoshi Nakamoto.
Key Points of the Theory:
- Avoiding 2009 Wallets:By using coins mined in 2010, Nakamoto may have deliberately avoided touching the original 2009 wallets to preserve anonymity and minimize the risk of revealing his identity.
- Strategic Liquidity:The Bitcoin was reportedly moved into P2SH addresses (common for escrow transactions) before being distributed to bech32 addresses, which offer lower transaction fees and efficient block space usage.
Liquidity Events
BTCparser tracked four major selling events:
- November 2019: $5 million in Bitcoin sold.
- March 2020: $6–8 million liquidated.
- October 2020: $11–13 million cashed out.
- November 15, 2024: A massive $176 million was sold just 10 days ago.
The theory suggests that the scale and timing of these sales align with Bitcoin’s rising value, reflecting a strategic withdrawal plan by the "whale."
Implications
BTCparser speculates that the exchange Coinbase, where the funds were allegedly deposited, might hold crucial information about this entity—unless intermediaries were used to obscure the trail.
Preservation of Anonymity
The theory underscores a meticulously planned strategy:
- The untouched 2009 wallets remain a symbol of mystery and are left intact to avoid scrutiny.
- Using coins mined later ensures minimal risk of exposing Nakamoto’s identity while still providing liquidity.
Context and Other Theories
This theory is the latest in a series of speculations about Satoshi Nakamoto’s identity, which remains one of the biggest mysteries in the cryptocurrency world:
- HBO Documentary Claims: A recent documentary linked Bitcoin cryptographer Peter Todd to Nakamoto, though Todd denied the claim.
- Other Suspects: Names like Nick Szabo, Adam Back, and the late Hal Finney have also been floated, but no conclusive evidence has emerged.
Conclusion
While BTCparser’s theory about the "2010 whale" presents an intriguing possibility, it remains speculative. If true, it highlights a calculated effort by Nakamoto to safeguard his anonymity while benefiting from Bitcoin’s growth. As interest in Satoshi’s identity persists, this theory adds another layer to the enduring enigma of Bitcoin’s creator.
