Ki Young Ju, the founder of blockchain analytics firm CryptoQuant, has issued a warning that revealing the identity of Bitcoin’s enigmatic creator, Satoshi Nakamoto, could have a negative impact on the cryptocurrency market.
In a statement, Ju argued that regardless of whether Satoshi is alive or deceased, disclosing their identity could lead to market uncertainty and potentially bearish sentiment. If Satoshi is alive, concerns about wealth concentration could arise, while if they are deceased, questions about who inherited their significant portion of the Bitcoin supply could spark conspiracy theories.
Ju emphasized that Satoshi’s anonymity is essential to the integrity of Bitcoin. “We are all Satoshi,” he stated, highlighting the decentralized nature of the cryptocurrency. He also pointed out that all of Satoshi’s known wallets, which account for approximately 9% of the total Bitcoin supply, have never been sold.
According to Ju, if a large amount of Bitcoin moves from these wallets and subsequent selling occurs, it would be a strong indicator to exit the market. He stressed that all of this information is transparently available on the blockchain.
Ju concluded by urging the community to respect Satoshi’s privacy and avoid actions that could tarnish the legacy of the individual who believed privacy was paramount in the development of Bitcoin.
