Why Crypto Billionaire Mike Novogratz Thinks Satoshi Nakamoto Is No Longer Alive
Bitcoin (BTC) currently underpins a $3.7 trillion crypto industry, is now traded on Wall Street, and is even legal tender in one country. But despite its stratospheric rise, a deep mystery remains at its heart: is its pseudonymous creator Satoshi Nakamoto still alive?
Is Satoshi Dead Or Alive? Heres Mike Novogratzs Take
Galaxy Digital CEO Mike Novogratz has shared his take on whether the Bitcoin creator Satoshi Nakamoto is still alive.
Speaking to CNBC, Novogratz suggested that the elusive BTC inventor is long dead.
If Satoshi was alive (cause I dont think he is), Im sure that hed have a big smile on his face, he opined while commenting on Bitcoins ballistic rally to a newfound record perch around $103,600.
Novogratz described Bitcoin as the greatest example of a huge team of people coming together to do something really spectacular.
While Satoshi initially created Bitcoin as a means of payment, the flagship crypto eventually evolved into digital gold, Novogratz observed.
Speculation about whether or not Satoshi is still alive has been running wild. Several names have been put forward as the possible identity of Satoshi. Some even believe Satoshi may have been a group of people rather than one individual, further muddying the waters. Early Bitcoin adopter Hal Finney, who was previously tipped as a possible Satoshi candidate, passed away in 2014.
A recent HBO documentary named Peter Todd as being Satoshi. However, Todd and the crypto community at large vehemently dismissed this assertion. That being said, most in the cryptosphere actually love the fact that the mystery remains unsolved.
Painful Bitcoin Pullback Inevitable
Novogratz further observed that recent weeks have been characterized by a Bitcoin buying frenzy by investors across the globe.
Nevertheless, he cautioned that there is massive leverage in the market. As such, the crypto tycoon is sure that Bitcoin will suffer one or two brutal price retracements that will test investors souls.
When there is that much leverage in the system, it washes it out, Novogratz explained.
On Thursday, the worlds largest crypto by market cap plummeted 6% to as low as $92,000 within three minutes before swiftly recovering. As of press time, BTC was changing hands for $98,227, representing a 4.1% drop on the day.
Text source: ZyCrypto
