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Trading financial products on margin carries a high risk and is not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.

Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Please ensure you fully understand the risks and take appropriate care to manage your risk.

Your capital is at risk.

Crypto Trading

Satoshi Nakamoto: Creator of Bitcoin

satoshi-nakamoto-us

When Bitcoin was created and the white paper introduced to the public on October 31, 2008, many people wondered: Who is Satoshi Nakamoto? Is this person even real? Satoshi Nakamoto is the mysterious figure behind Bitcoin, but 'his' or 'their' true identity remains unknown. How much Bitcoin do they have and what is the value of their holdings today? Keep reading to find out.

Who is Satoshi Nakamoto and is he real?

Satoshi Nakamoto is the pseudonymous creator of Bitcoin, the first decentralised cryptocurrency. The true identity of Satoshi Nakamoto remains unknown. The name "Satoshi Nakamoto" is believed to be a pseudonym for an individual or a group of people who authored the Bitcoin white paper and developed the original Bitcoin software implementation. Satoshi Nakamoto communicated extensively online while working on Bitcoin, but ceased all public communications around 2011. Since then, there has been much speculation and investigation into the true identity of Satoshi Nakamoto, but no concrete evidence has emerged to definitively identify them.

Numerous individuals have been suspected of being Satoshi Nakamoto, including computer scientists, cryptographers, and entrepreneurs, but all such claims remain unverified. Some people believe that Satoshi Nakamoto's identity should remain anonymous, as it aligns with the decentralised ethos of Bitcoin. Others are curious about their identity for various reasons, including the desire to understand their motivations and vision for creating Bitcoin.

The creation of Bitcoin

Bitcoin was created in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." This white paper outlined the principles and technical details of a decentralised digital currency system called Bitcoin. In January 2009, Nakamoto released the first version of the Bitcoin software, effectively launching the Bitcoin network. The system operates on a decentralised peer-to-peer network, using cryptographic techniques to secure transactions and control the creation of new units of currency. The creation of Bitcoin represented a breakthrough in the field of digital currencies offering a decentralised alternative to traditional fiat currencies controlled by governments and central banks.

How many Bitcoins does Satoshi Nakamoto have and what's the current value?

Satoshi Nakamoto is believed to possess around 1.1 million Bitcoins and none was ever spent. With the current price of Bitcoin being $66,000 per BTC as at the time of this writing, we can calculate the current value of Satoshi Nakamoto's holdings:

1.1 million BTC * $66,000/BTC = $72,600,000,000

So, based on these estimates and the current BTC price, Satoshi Nakamoto's Bitcoin holdings are worth approximately $72.6 billion.

Past performance does not guarantee or predict future performance.

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How to get started with Bitcoin & 60+ other crypto CFDs

To get started with Bitcoin and over 60 other cryptocurrency CFDs on Skilling, you first need to understand what CFDs are. CFD stands for Contract for Difference. It's a financial derivative that allows you to speculate on the price movement of various assets without actually owning the underlying asset.

Here's how to get started:

  1. Research and education: Before diving in, educate yourself about cryptocurrencies and CFD trading.  Understand how they work, their volatility, and the risks involved.

  2. Choose a reputable broker: Skilling is a reputable and award-winning Scandinavian CFD broker known for its user-friendly platform and range of other instruments such as Gold - XAUUSD stocks, Forex and more.

  3. Open an account: Sign up for an account on Skilling’s platform. You'll need to provide some personal information and verify your identity according to regulatory requirements.

  4. Deposit funds: Once your account is verified, deposit funds into your Skilling account. Skilling accepts various payment methods like bank transfer, credit/debit cards, or e-wallets.

  5. Navigate the platform: Explore Skilling's platform to familiarise yourself with its features and tools. Skilling offers a trading assistant, charting tools, technical analysis indicators and risk management features to help you make informed trading decisions.

  6. Start trading: Once you're comfortable with the platform, you can start trading. Search for the cryptocurrency CFDs or other instruments you're interested in and place your trades. Remember to manage your risk and only trade with money you can afford to lose.

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  7. Monitor your trades: Keep an eye on your open positions and the market conditions. CFD trading allows you to profit or incur a loss from both rising and falling prices, but it's essential to monitor your trades closely.

  8. Withdraw: If you're successful in your trades, you can withdraw your profits from your Skilling account. Follow our withdrawal process, which usually involves selecting your preferred withdrawal method and providing necessary details.

Remember that trading CFDs involves significant risks, including the risk of losing your invested capital. It's crucial to approach trading with caution, use risk management strategies, and never trade with money you can't afford to lose.

Past performance does not guarantee or predict future performance. This article is offered for general information and does not constitute investment advice. Please be informed that currently, Skilling is only offering CFDs.

No commissions, no markups.
17/06 - 21/06, 00:00 - 21:00 UTC
USDZAR & BTCEUR*
*Trading cryptocurrency may not be available depending on your country of residence.
Trade now
Experience Skilling's award-winning platform
Try out any of Skilling’s trading platforms on the device of your choice across web, android or iOS.
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