Happy Birthday, Satoshi Nakamoto? Today is believed to be the birthday of Bitcoin’s enigmatic creator, Satoshi Nakamoto. This mysterious inventor hits the big 5-0 as the cryptocurrency they brought into the world gains increasing traction, particularly in the US, the world’s leading economy, where institutions and governments are taking notice.

While Satoshi Nakamoto’s true identity remains a mystery, clues from the past suggest the person behind Bitcoin might be turning 50 today, April 5th. Satoshi once mentioned being 37 and residing in Japan, even listing April 5, 1975, as their birthday on their archived P2P Foundation profile.

Bitcoin advocate Michael Saylor sent birthday wishes on X, joining others in celebrating. This milestone birthday for Nakamoto arrives almost a month after a significant move by the US government – President Trump’s executive order to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile. This executive order signaled the first major stride towards weaving Bitcoin into the fabric of the US financial system.

Blockchain expert and author Anndy Lian commented, “At 50, Nakamoto’s legacy is more than just lines of code; it’s become a cornerstone of economic independence.” Many other Bitcoin investors have also chimed in with birthday greetings, with many hailing Nakamoto as a legend in the space.

However, not everyone is convinced Satoshi is still around. Mike Novogratz, CEO of Galaxy Digital, recently mused, “If Satoshi were alive (though I doubt it), I bet he’d be grinning from ear to ear.”

Why Satoshi Nakamoto’s Anonymity Actually Helps Bitcoin

The true identity of Nakamoto remains one of crypto’s greatest enigmas. Speculation about who it could be has run wild, from cryptographers like Adam Back and Nick Szabo to more elaborate theories involving government intelligence agencies.

Interestingly, Nakamoto’s choice to remain anonymous has actually played a crucial role in maintaining Bitcoin’s decentralized nature. By concealing his real name and stepping out of the spotlight, he effectively ensured Bitcoin wouldn’t be beholden to a single leader or central figure whose personal agenda could sway the system. This inherent design means Bitcoin operates without a singular point of control or authority.

Despite Bitcoin’s journey from zero to a peak of over $109,000 in January, the Bitcoin address linked to Nakamoto, holding over a million BTC, has remained untouched for more than 16 years. In fact, Arkham Intelligence reported in February that Nakamoto is believed to control a staggering 1.096 million BTC, an amount valued at over $108 billion at the time.

Bitcoin Price Could Dip Further

As the broader market experienced a downturn this week, Bitcoin’s price also slipped below $82,000. Tracy Jin, COO of crypto exchange MEXC, has offered a fresh perspective on Bitcoin’s price trajectory, suggesting it could potentially fall to between $52,000 and $56,000 by the summer of 2025.

This projected drop is attributed to rising trade tensions, market volatility, and a weakening perception of Bitcoin as a reliable safe-haven asset amidst economic uncertainty.

Bitcoin’s price decline coincided with sharp drops in stock markets like the Nasdaq Composite and S&P 500. This correlation was largely sparked by President Trump’s announcement of unprecedented trade tariffs impacting major US trading partners.

These tariffs, which the Trump administration dubbed “Liberation Day” measures, immediately injected volatility into the market. Within just 24 hours, the crypto market witnessed the liquidation of $293 million in long positions and $220 million in short positions.

This may only be the beginning, as Trump’s characteristic outspoken commentary, often delivered via social media, and the looming threat of retaliatory tariffs are likely to amplify these market swings even further.

Currently, Bitcoin is priced at $82,709. It has edged down by 0.3% in the last 24 hours, continuing the downward trend observed over the past few weeks.

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Source: cryptopolitan.com