Key Points
- Coinbase director, Conor Grogan, revealed new findings about Bitcoin creator, after analyzing his wallets.
- Details include the last on-chain activity, new identity hints, and an exchange he might have used.
In a new thread via X, Coinbase director, Conor Grogan, revealed new details about the Bitcoin creator, Satoshi Nakamoto.
After going through Satoshi’s wallets, Gorgan observed new information about when Satoshi might have been last active on-chain, a crypto exchange that he might have used, and the fact that Kraken may know his real identity.
He shared on-chain data from 2011 to 2014 featuring various BTC transfers.
Satoshi Could Own 1.096 Million BTC
Grogan began his thread by noting that a Patoshi Mining Pattern set of addresses was recently cataloged by Arkham Intelligence. This pattern can be used to identify Saotshi’s BTC stash.
He said that while these addresses cannot be linked to Satoshi 100%, there is “good evidence” that they might belong to him. In total, the research points to Satoshi owning 1.096 million BTC, worth $108 billion, making Bitcoin’s creator wealthier on paper than Bill Gates, Gorgan says.
He also shared a graph showing BTC’s value rise over time, reaching the impressive amount of dollars mentioned above.
1st Documented On-Chain Move Between a Satoshi Wallet and a CEX
Grogan continued and said that there are 24 documented outbound sends from the crypto addresses, and the most popular destination address was 1PYYj.
He also said that this address received BTC from Cavirtex, a Canadian crypto exchange founded in 2011. Grogan believes that this is the first documented on-chain move between a Satoshi-linked wallet and a CEX.
He shared on-chain data showing a transfer of over 0.23 BTC worth almost $174 from December 26, 2013, featuring a fee of $0.37.
Grogan also said that the address is associated with funding 12ib, one of the largest active BTC addresses of all time, which holds 3 billion in BTC today, according to his notes. He shared on-chain data from 15 years ago, pointing to that address:
He also mentioned that the address 1PYYj (Satoshi receiver #1) received 500 BTC. Gorgan believes that the transfer could have been to another party, meaning that there’s a documented case of a Satoshi payment.
The address 12ib sent 21,700 BTC via 4 transactions, first on June 2, 2010, and last on July 24, 2010. The address received over 52,700 BTC via 183 transfers, the first one on May 13, 201,0, and the last one on January 29, 2025.
Now, according to on-chain data, the address holds over 31,000 BTC worth over $3.05 billion.
Grogan believes that 1PY address was associated with Satoshi or a very early contributor/adopter.
Kraken Crypto Exchange Could Know Satoshi’s Identity
Grogan also made another interesting point – Kraken crypto exchange could know Satoshi’s true identity. He motivates his assumption by noting that Cavirtex was purchased by Kraken in 2016.
This could mean that since Satoshi used Cavirtex, there is a chance that Jesse Powell, co-founder and Chairman at Kraken, could know Satoshi’s identity if the exchange maintained any KYC data on the wallet. However, Gorgan advised Kraken to delete all data if there’s any available.
Grogan also noted that the Satoshi-linked addresses sent 200 BTC to the Bitcoin faucet across 2 transactions.
He also reminded his followers that back then, you could fill out a CAPTCHA and get 5 BTC for free. The Bitcoin faucet or any other crypto faucet is an online platform or app that rewards users with small amounts of crypto in exchange for performing basic tasks.
Satoshi is Not Len Sassaman
Grogan concluded his thread by saying that all this data would allow evidence once and for all to determine if the Patoshi mining pattern is definitely linked only to Satoshi. He said that this was the first set of evidence that he’d seen in years, decreasing his confidence that Satoshi was Len.
A recent HBO documentary reopened speculation that Len Sassaman was the creator of Bitcoin. Len was an American technologist, information privacy advocate, and the maintainer of the Mixmaster anonymous remailer code and operator of the randseed remailer.
Kraken crypto exchange responded to Grogan’s thread, saying “We are all Satoshi.”
In conclusion, as we said before, the identity of Satoshi Nakamoto is not relevant to the crypto industry or the world. His legacy and teachings are what matter most, and people should focus on learning about them and building on this foundation to continue supporting and expanding the ecosystem.
