Satoshi Nakamoto — the anonymous founder of Bitcoin — has seen the value of his legendary BTC holdings drop by more than $20 billion since the cryptocurrency hit record highs earlier this month.
Data from Arkham Intelligence estimates that Satoshi still controls over 1 million BTC, currently worth around $117.5 billion. At Bitcoin’s peak above $126,000 in early October, that same stash briefly exceeded $136 billion in value.
Trump’s tariff remarks trigger historic crypto liquidations
The sudden downturn began on October 8, when a social media post by U.S. President Donald Trump hinted at new tariffs on Chinese goods. The announcement sparked fears of a fresh trade war and sent shockwaves through both traditional and crypto markets.
Within hours, a wave of forced liquidations wiped out over $20 billion in leveraged positions — marking the largest single-day liquidation event in crypto history. Some altcoins plunged by more than 99%, while Bitcoin managed to hold above the $100,000 threshold, showcasing relative resilience compared to the broader market.
Analysts say fundamentals remain intact
Despite the steep correction, analysts from The Kobeissi Letter argue that the sell-off is “a temporary shakeout” rather than a sign of structural weakness.
“The decline is purely technical,” they noted, citing excessive leverage and thin liquidity as key drivers that amplified the volatility. “We remain optimistic that a trade agreement will calm markets and support a renewed uptrend in crypto.”
Earlier this month, the same analysts observed that Bitcoin’s all-time high coincided with the U.S. dollar’s weakest year since 1973 — an indication, they said, of a potential long-term economic transformation.
Interestingly, risk assets and store-of-value assets such as gold and Bitcoin have been rising in tandem — a rare occurrence that suggests a broader investor shift toward hard assets amid macroeconomic uncertainty.
In short, while Satoshi’s portfolio may have shed tens of billions in paper value, analysts believe the long-term narrative for Bitcoin remains stronger than ever.
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