The cryptocurrency market is in turmoil again because of the "ghost" Satoshi Nakamoto

(Dan Tri) - After 15 years of silence, Satoshi Nakamoto's 1.1 million bitcoin block worth more than 117 billion USD is still a "ghost" haunting the market: Anonymous genius or a scammer secretly manipulating?

The cryptocurrency market, which has no shortage of dramatic stories, is once again holding its breath over the world's most mysterious identity: Satoshi Nakamoto.

Recently, a small bet on the Polymarket exchange sparked a big debate: Will the father of bitcoin move his huge fortune before the end of 2025?

Though the bet was small, it underscored the market’s lingering obsession. Any move by Satoshi’s alleged wallets would have sent shockwaves. But as traders were still digesting the story, a prominent voice in traditional finance made a far more shocking allegation.

Will Satoshi Nakamoto “break his silence” and move his 1.1 million bitcoin fortune before 2025 ends? (Illustration: Cam Ha).

Conspiracy Theory: Bitcoin's Creator Is a "Fraudster" Secretly Selling Off?

Gary Stevenson, a British economist and former Citigroup trader known for his sharp views, has not hesitated to call Satoshi “a fake” and bitcoin an “elaborate scam.”

In a recent interview, Stevenson outlined a terrifying scenario: “Imagine you’re Satoshi Nakamoto. You create a fake currency and you have a trillion dollars,” he said. “If I were that guy, and I knew that if I started selling, the price would go to zero, what would I do? I would sell $100,000, use that money to buy ads. Then I would sell $200,000 and buy ads again.”

According to Stevenson, the man behind the Satoshi name is secretly selling his bitcoins to fund a global PR campaign. The goal is to “blow the ads everywhere,” convincing young, inexperienced investors to buy “this useless asset” so he can cash in. “It’s a scam,” he asserts.

Stevenson’s argument hits at bitcoin’s biggest weakness: the concentration of power and wealth in the hands of a single anonymous entity. If he’s right, bitcoin’s entire price surge isn’t market adoption, but the result of an unprecedented campaign of price manipulation.

The "ghost" richer than Bill Gates and the fear of the market

Whether Satoshi is a genius or a fraud, the size of this "ghost"'s assets is undeniable. According to data from Arkham Intelligence, the total value of bitcoins associated with Satoshi at one point exceeded the $117 billion mark. This amount of assets is enough to put this mysterious character in the top of the richest people on the planet, even surpassing Bill Gates.

The asset is so large that even when it’s dormant, it’s still generating incredible numbers. Last October, when the market was rocked by rumors of new tariffs, Satoshi’s wallet value “evaporated” $5.03 billion in just 24 hours.

The fragility of the market in the face of macro news and the fear of the “ghost” Satoshi is real. Whoever owns 1.1 million BTC has the power to sink the market with just a few clicks.

Satoshi Nakamoto's fortune: 1.1 million bitcoins, 15 years of silence, and a future worth $1 trillion (Photo: Veronica Cestari).

17-year paradox: Bitcoin has "grown up" and doesn't need a father?

The debate over Satoshi’s identity and intentions may never end. But ironically, as the market holds its breath watching the “ghost” Satoshi, his brainchild seems to no longer care about its father.

Bitcoin just celebrated the 17th anniversary of its whitepaper (October 31, 2008). It has gone from a “hacker experiment” to a mainstay in institutional portfolios. Institutional adoption is no longer a prediction, it’s a reality:

Wall Street giants: BlackRock, the world's largest asset manager, now holds a large amount of bitcoin through its ETFs.

Listed and Private Companies: Hundreds of thousands of BTC are sitting in the treasuries of public and private companies around the world, viewed as a strategic reserve asset.

Michael Rihani, a cryptocurrency expert, believes that this integration has strengthened bitcoin's position. "This move connects traditional finance with digital finance, expanding access and increasing trust," he explained.

From financial assets to " political statements"

More importantly, bitcoin has moved beyond the financial sphere to enter the global political stage.

The biggest change may come from US President Donald Trump, who has been a vocal critic of bitcoin, now accepts bitcoin campaign donations and has pledged to make the US a “global hub for blockchain mining and innovation.” This is no longer just rhetoric, but a stance on industrial policy and economic security.

In Argentina, President Javier Milei sees bitcoin as a tool to “return money to the people,” an effective “shield” against hyperinflation and poor government financial management. Meanwhile, El Salvador under President Nayib Bukele has pioneered the process of making bitcoin a legal currency, despite warnings from international financial institutions.

For these leaders, bitcoin is not just a speculative asset but a statement of financial sovereignty in a volatile world.

We are facing a fascinating paradox.

On the one hand, the market is still haunted by the specter of Satoshi's $117 billion fortune. Traders are still betting on his actions, and economists are still worried about a "scam of the century."

On the other hand, an even larger force, including BlackRock, corporations and countries, has decided that bitcoin, with its limited supply of 21 million, is a legitimate asset. They are integrating it into the global financial system at a breakneck pace.

After 17 years, perhaps the debate over Satoshi's true identity is less important than the question of his legacy. Bitcoin has come into its own.

Source: https://dantri.com.vn/kinh-doanh/thi-truong-tien-so-lai-day-song-vi-bong-ma-satoshi-nakamoto-20251112084520588.htm