Satoshi Nakamoto’s Bitcoin Wealth Dips Over $20 Billion Following Market Crash

The recent downturn in the cryptocurrency market that led some digital currencies to plummet by up to 99% also significantly affected the wallets owned by Satoshi Nakamoto.

Satoshi Nakamoto’s portfolio Source: Arkham Intelligence
Nakamoto remains the largest holder of Bitcoin (BTC) globally, and the value of the holdings have declined over $20 billion since their all-time high of $126,000 in early October.

Satoshi’s extensive collection is still comprised of over 1 million BTC, worth approximately $117.5 billion according to data from Arkham Intelligence.

The portfolio experienced a peak valuation of over $136 billion during Bitcoin’s surge earlier this month. However, chaos erupted on October 8 when the market was shaken by a series of forced liquidations in the perpetual futures market, initiated by a social media post from US President Donald Trump. This post hinted at new tariffs against China, causing alarm over a potential trade war.

The market’s collapse resulted in $20 billion worth of liquidations—the harshest single-day event in crypto history. The turmoil caused various altcoins to drop by over 99%, but Bitcoin managed to stay resilient, maintaining its value above $100,000.

Market Crash: A Temporary Setback

According to analysts at The Kobeissi Letter, this market decline is expected to be short-lived and will not alter the long-term fundamentals of the crypto market. Various technical factors such as excessive leverage and low liquidity were pinpointed as contributors to this market downturn.

The analysts expressed optimism, stating: “We think a trade deal will be reached, and crypto remains strong. We are bullish.” They also noted that Bitcoin’s previous all-time high coincided with the US dollar’s weakest year since 1973, indicating a significant macroeconomic transformation.

The analysts highlighted unusual trends where both risk-on assets and traditional stores of value like gold and Bitcoin are appreciating simultaneously, reinforcing their bullish outlook.