CAPE TOWN - Progressive cryptocurrency, Bitcoin, is arguably one of the greatest financial phenomenons. However, there is great uncertainty over who created it and what their net worth is.
All that is known about the founder of this progressive financial phenomenon is the name, Satoshi Nakamoto. Beyond this, nothing further is known. Yet, in 2016, Australian entrepreneur Craig Wright claimed that he is Nakamoto.
The truth of the matter remains a mystery.
Nakamoto could be alive, be dead, or he or she or it could be a group of people.
No one knows for certain.
If the simple explanation is true, though, then Nakamoto is currently the 52nd richest person in the world, according to Forbes list of billionaires.
Further predictions reveal that the 52nd richest person in the world is on his way to topping the list as the world’s first trillionaire.
Nakamoto is believed to be in possession of around 1 million Bitcoins. Given the current value of the cryptocurrency, this makes him R223 billion rich.
Yet, Nakamoto has been off the grid since April 2011 and his Bitcoin stash has not actually moved. This makes it hard to know what he is up to.
Some people would wonder why someone as rich as he is, would sit on an R223 billion fortune and not spend a single penny of it.
In order for Nakamoto to become the richest man in the world, the price of Bitcoin has to hit R1.1 million, which sounds impossible. Yet, this time last year, saying that Nakamoto would be anywhere near the 100 richest people in the world would have seemed impossible too.
The probability of bitcoin’s value to increase has been touted by angel investor, James Altucher. One of the Winklevoss twins also recently called Bitcoin a ‘multi trillion-dollar asset’.
In 2011, one coin was worth a mere one dollar (R13). Two years later, in 2013, the value had risen to a modest R2625. This kind of growth is unheard of, even for digital giants like Apple, Google and Facebook.
Although the growth in the price of Bitcoin is not going to last forever, at this moment, it seems promising.
- BUSINESS REPORT ONLINE