Satoshi's 1.1 Million BTC, Locked Forever...Will the Bitcoin Founder Mystery Be Solved?

▲ Bitcoin (BTC), Satoshi Nakamoto/ChatGPT generated image

A claim has emerged that the 1.1 million BTC belonging to Satoshi Nakamoto, the founder of Bitcoin (BTC), will remain unmoved forever. Financial and cryptocurrency speaker Fred Krueger presented the hypothesis that Satoshi was not a single individual but a cypherpunk duo consisting of Hal Finney and Len Sassaman as the most logical explanation.

According to the cryptocurrency media outlet U.Today on May 8, Krueger released a detailed analysis that could end the long-standing search for Satoshi Nakamoto. He argued that the pseudonym Satoshi was likely not referring to one person but rather to Finney and Sassaman together.

Krueger's first piece of evidence was Finney's marathon alibi. Analysis of 2009 email records shows that at the exact time Satoshi sent an email to Mike Hearn, Finney was participating in a 10-mile race. Krueger stated, “One person cannot be in two places at once, but a team can.”

The second piece of evidence is the division of roles. Krueger viewed Finney as the hands-on implementer and C++ genius, while Sassaman was a world-class cryptography expert. The fact that the Bitcoin whitepaper had an academic tone and a so-called British feel, while the Bitcoin code was a purely engineering product, was also presented as a supporting factor for this hypothesis. Krueger believed that Sassaman's long-term residency in Belgium could explain the British characteristics of Satoshi's writing style.

The third piece of evidence is the timing of Satoshi's disappearance. Satoshi ceased communication after April 26, 2011. Sixty-eight days later, Sassaman passed away. During the same period, Finney was losing his ability to type due to the progression of ALS. Krueger described this coincidence of timing as “eerie.”

Krueger's conclusion is disappointing for a market that has been awaiting the reactivation of Satoshi's wallet. He believes that Satoshi's Bitcoin will not move in the future. According to the original text, at the time of Sassaman's death and Finney's progressing paralysis, the value of the holdings they possessed was “only” about $800,000.

According to Krueger's theory, the private keys disappeared with the founders, and 1.1 million BTC became the largest burned amount in Bitcoin history. The current value of this amount is stated to be $87.8 billion. U.Today assessed that what truly matters is not who Satoshi was, but the fact that the risk of a Bitcoin crash due to founder wallet movement has effectively become close to zero.

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