Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
U.Today - Latest information confirms that Satoshi Nakamoto’s fortune now exceeds that of Bill Gates. Arkham data suggests that Satoshi currently has more than $116.7 billion of Bitcoin.
The quantity of the BTC comes from a wallet it claims belongs to Nakamoto and contains nearly 1.9 million BTC.
Satoshi’s soaring wealth surpasses Gates’
Bitcoin’s recent rally past $106,000 has pushed Satoshi’s holdings to new heights. The rise adds nearly $2.5 billion in value in just one day. At the same time, Bill Gates’ net worth was recorded at $116.2 billion, based on real-time data. That places Satoshi just ahead of the Microsoft co-founder in the global wealth rankings.Satoshi Nakamoto’s identity remains one of the internet’s biggest mysteries. No one has confirmed who invented Bitcoin, even after more than 15 years. The individual, or group, disappeared from public view in 2011, leaving behind a decentralized financial system now worth over $2 trillion.
Despite the mystery, Satoshi’s Bitcoin wallet has never moved a single satoshi. The untouched wallet has long fascinated crypto experts and investors. Many believe the funds may never be accessed. If they ever were, it could shake the crypto market deeply.
A tracker tag set by Arkham to mark the wallet shows how many BTC it has and the current value. As Bitcoin goes up in price, Nakamoto’s fortune will keep rising quietly.
It underlines the progress Bitcoin has achieved. The fact that Bitcoin’s founder passed Gates, who controlled Microsoft for decades, shows the role of crypto in building wealth.
May trends in Bitcoin exchange Netflow activity
In addition, a recent chart from CryptoQuant clearly shows how Bitcoin’s price and exchange netflow have moved during the last month. At the beginning of May, Bitcoin’s price was below $100,000 and many red bars showed that a lot of Bitcoin was going out from exchanges.This means that investors decided to keep their cryptocurrencies instead of selling. Toward the end of May, the rapid rise in price was accompanied by a bright green spike on the chart, meaning many BTCs had entered the market very quickly when its value rose past $108,000.
During this period, some traders may have been selling their tokens because they wanted to secure profits. Then, the netflow moved into negative territory again, with red bars being more common, and the price remained steady at around $105,000.
After the big rally, it seems many investors have taken their Bitcoin off exchanges to keep it safe, usually done when expecting further gains.