Satoshi Nakamoto's Bitcoin Holdings Fall to $71 Billion as Price Slides

Bitcoin is currently trading at $65,172, representing a 48.37% decline from its all-time high. The sustained downturn has imposed losses on a broad share of holders—including Bitcoin's pseudonymous creator, Satoshi Nakamoto.

According to Arkham data, Satoshi's wallets, which have remained untouched since 2010, contain approximately 1.096 million Bitcoin. These holdings represent roughly 5.5% of Bitcoin's total circulating supply, making them one of the largest single concentrations in the network—a fact that has long fueled speculation about what would happen if they ever moved, even though no transaction has been recorded in over a decade. At current prices, this stash is valued at roughly $71.19 billion—a steep fall from its peak valuation. When Bitcoin reached its record high of $126,198 last year, those same holdings would have been worth more than $138 billion.

The current $71.19 billion valuation reflects a decline of about $67 billion, equating to a drop of more than 48% from the creator's holdings. Bitcoin is now trading near levels last seen in September 2024. For context, previous "crypto winters" were markedly more severe, with peak-to-trough drawdowns reaching as much as 80%, and Bitcoin has recovered from each of those cycles—a historical pattern that current holders are weighing against today's unusually low engagement.

Recovery Prospects Remain Dim

Rafael, co-founder of Glassnode, believes Bitcoin continues to rest on uncertain footing, with both market participation and demand remaining thin. Spot trading activity persists at extremely low levels, and the daily spot turnover ratio is similarly depressed—a combination he described as "textbook apathy."

Beyond crypto-native spot markets, trading volumes in both ETFs and DAT equities have also declined from their highs. U.S. spot Bitcoin ETFs, which launched in January 2024 and became a significant institutional gateway to Bitcoin exposure, have seen enthusiasm wane alongside the broader cooldown. The broader market is conveying a consistent message: subdued participation.

This dynamic leaves a sustained Bitcoin recovery out of view for now. The Glassnode co-founder noted that a healthier move upward would require meaningful re-engagement from market participants.

BIP-110 Chain Fails to Gain Traction

A minority chain emerged on Saturday after supporters of BIP-110 (Bitcoin Improvement Proposal-110) split from the main Bitcoin network. However, the forked chain produced only two blocks within hours of going live, with no indication that miners intend to sustain it.

Michael Saylor addressed the development in a post on X, stating: "With only 2.6% miner signaling, BIP-110 has failed to earn broad miner support. At block 961,632, its nodes will reject non-signaling blocks. BIP-110 will then stall or fork into irrelevance while Bitcoin continues normally."