On February 6th, it was reported that as Bitcoin’s price retreated from its high at the end of 2025, the massive Bitcoin holdings of its mysterious creator, Satoshi Nakamoto, also experienced a significant decrease in value. Based on current market prices, the book value of approximately 1.1 million Bitcoins under Satoshi Nakamoto’s name is about $71 billion, whereas during the peak a few months ago, this number exceeded $130 billion, with a loss of over $60 billion.
This change is not due to selling activity. On-chain data shows that wallets associated with Satoshi have been in long-term dormancy since around 2010, with no large-scale transfers ever occurring. These addresses are considered “effectively locked,” accounting for about 5% of the total Bitcoin supply, and are the largest known single holdings in the market. Because of this, they are viewed as “sleeping Bitcoins” that will not enter circulation, having a long-term impact on market structure.
When Bitcoin hit a new all-time high at the end of 2025, Satoshi’s holdings once became one of the most valuable crypto asset portfolios globally. Now, the price correction has nearly halved its value, demonstrating the high elasticity of Bitcoin’s price movements. Even if the largest holder takes no action, their nominal wealth will still fluctuate dramatically with market cycles.
Since stepping back from the public eye in 2011, Satoshi Nakamoto has never made any statements regarding their identity or assets. This prolonged silence has made their wallet itself a part of Bitcoin’s narrative. Some speculate they are still alive, while others believe they have passed away. Regardless of the truth, these dormant addresses have become symbols of the long-term holding philosophy in Bitcoin.
This recent book value reduction serves as a reminder to investors: Bitcoin is not a one-way upward asset; its value constantly adjusts in response to macroeconomic conditions, market sentiment, and cyclical changes. Satoshi Nakamoto’s “unchanged one coin” perhaps offers the most direct illustration of this volatility.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The loss from mining a single Bitcoin is approximately $19,000, and mining companies are accelerating their transition to AI and high-performance computing businesses.
Gate News reports that on March 28, the current mining of a single Bitcoin faces a loss pressure of about $19,000. Mining companies are accelerating their transformation towards artificial intelligence (AI) and high-performance computing (HPC), and are funding related infrastructure investments by selling part of their BTC reserves. According to CoinShares data, publicly listed mining companies have announced a total value of over $70 billion in AI and HPC collaboration projects, indicating that the industry as a whole is transitioning towards computing power services.
GateNews9m ago
BTC ETF has regained $3.0 billion in outflows since the “1011 crash,” and by year-to-date the liquidity position is approaching flat
Gate News reports that on March 28, according to Bloomberg ETF analyst James Seyffart, between October 2025 and the end of February 2026, Bitcoin ETFs recorded about $9 billion in outflows, of which approximately $3 billion has been recovered. Although the overall net outflow since the "1011 crash" still exceeds $6 billion, looking at the performance this year, the inflows and outflows of Bitcoin ETFs have nearly balanced out, indicating a certain recovery in market sentiment.
GateNews22m ago
Bitcoin miners are becoming AI companies and selling their BTC to fund the transition
The bitcoin mining industry is undergoing the most fundamental transformation in its history, and the clearest sign isn't the hashrate or the difficulty adjustments. It's the balance sheets.
CoinShares' Q1 2026 mining report, published this week, reveals that the weighted average cash cost to
CoinDesk26m ago
Bitcoin is at risk of dropping to the support level of $61K USD – Can Trump save it?
Bitcoin kicked off the weekend with its short-term structure broken, mounting macro pressure, and a key political factor sitting near the center of the market’s risk map.
Over the past two weeks, the technical setup has weakened in clearly visible steps. The macro backdrop continues to tighten as bond yields mature, increasing the risk of volatility and market instability.
TapChiBitcoin1h ago
