Satoshi Nakamoto: how many bitcoins did the creator of cryptocurrency accumulate and why his fortune is greater than Bill Gates'

In the first half of 2025, as Bitcoin prices hit new all-time highs again, the wealth valuation of this mysterious Bitcoin pioneer soared, once again shocking the global crypto community. According to a report by on-chain data analysis platform Arkham, the answer to the question “How many bitcoins does Satoshi have?” is becoming increasingly attention-grabbing: the digital assets owned by this anonymous Bitcoin creator are now enough to place him among the world’s wealthiest individuals.

Early Mining Era: How One Person Accumulated Over a Million Bitcoins

Bitcoin’s creator, Satoshi Nakamoto, was one of the earliest miners. In early 2009, the reward for successfully mining a block was 50 BTC. In just six months from January to July 2009, it is estimated that he mined over 1 million bitcoins, making him the most successful individual miner in Bitcoin history.

At that time, few people recognized the potential of this emerging digital currency. Most computer enthusiasts involved in mining saw it as a technical experiment. However, Satoshi built up a large Bitcoin reserve during this critical period. Interestingly, industry consensus suggests that Satoshi could have mined even more bitcoins but may have intentionally limited his mining activity by reducing his hash rate to leave room for other miners to participate.

Tracking Data Patterns: How the “Patoshi Model” Reveals the Truth

Researchers have long been investigating the exact number of bitcoins Satoshi owns. In a research report titled “The Wealth Satoshi Deserves: The Bitcoin Creator, Visionary, and Genius,” renowned cryptography and blockchain security expert Sergio Damian Lerner provided the most convincing analysis to date.

Lerner carefully examined the blocks mined between January 1, 2009, and January 25, 2010 (blocks 1 through 36,288), attempting to identify which blocks likely came from the same miner. His analysis indicated that a single mining operation produced thousands of blocks during this period and accumulated rewards of about 1 million BTC. Based on the characteristics of this mining pattern, Lerner coined the term “Patoshi model.” Since this pattern started from the Bitcoin genesis block, Lerner inferred that this “Patoshi” was very likely Satoshi Nakamoto himself.

Why These Digital Wealths Remain in a “Frozen” State

Since 2010, Satoshi Nakamoto has lost contact with the Bitcoin community. Despite repeated attempts by members of the crypto community over the past decade to uncover the true identity behind this pseudonym, no one has succeeded so far.

The most notable phenomenon is that Satoshi’s bitcoins have never been moved. This has sparked widespread speculation within the crypto community. Many believe that the founder has passed away, and his digital assets have thus permanently disappeared from the circulating supply. Another theory suggests that Satoshi is still alive but has chosen to permanently lock these assets for unknown reasons. This “frozen” state of wealth has profound implications for the entire Bitcoin network—if these coins were to suddenly become active, it could cause a massive shock to the crypto markets.

Wealth Ranking: How Satoshi Surpassed Microsoft Founder

According to the latest data analysis by Arkham, Satoshi’s approximately 1.096 million bitcoins were valued at $120.4 billion in the first half of 2025, accounting for 5.2% of all circulating Bitcoin worldwide. To give this figure more intuitive meaning, here are some comparisons:

Microsoft founder Bill Gates’ personal net worth is about $115 billion. This means that, based on current prices, Satoshi’s Bitcoin holdings have already exceeded the total assets of this tech giant. This comparison vividly illustrates the long-term wealth accumulation resulting from Satoshi’s early involvement in Bitcoin.

In contrast, business intelligence firm MicroStrategy has been purchasing Bitcoin on a large scale since August 2020, but its holdings account for only 2.763% of the total Bitcoin supply—far less than Satoshi’s share.

Potential Threats and Community Expectations

If Satoshi decides to sell these bitcoins, the crypto market would face not only price volatility risks. Selling such a massive amount could lead to a severe market downturn. However, most crypto enthusiasts are not overly worried. Their reasoning is simple: based on analysis of various historical records and clues, Satoshi is believed to no longer be alive. Under this assumption, these bitcoins are effectively “permanently lost” and will never re-enter circulation.

Nevertheless, some insist that Satoshi is still alive. According to personal information he provided when registering on a forum, his date of birth is April 5, 1975, and he claims to be from Japan. If this information is accurate, he would be over 50 years old in 2025. There are also alternative theories suggesting that Satoshi might not exist at all, and that Bitcoin was actually developed by government regulators.

The question of how many bitcoins Satoshi owns ultimately reminds us that blockchain innovation often comes with mysteries and uncertainties. Regardless of Satoshi’s true identity or current status, his contributions have fundamentally transformed the global financial system.