Satoshi Nakamoto: Creator of BTC

Satoshi Nakamoto (fl. 31 October 2008 – 26 April 2011) is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database. Nakamoto was active in the development of bitcoin until December 2010.

Nakamoto's true identity is unknown, although various people have been posited as the person or group of people behind his name. His name is Japanese, and his persona suggests a man living in Japan;however, many have speculated that he is a software and cryptography expert from the United States or Europe. Assuming he is an individual person, Nakamoto's bitcoin holdings make him one of the world's wealthiest people. His wallet, which has been untouched since 2010, holds an estimated 1.1 million bitcoins. At their July 14, 2025 price of over $123,000 each, Nakamoto's bitcoins were worth nearly $135 billion.

Development of bitcoin

Nakamoto said that the work of writing bitcoin's code began in the second quarter of 2007. On 18 August 2008, he or a colleague registered the domain name bitcoin.org, and created a web site at that address. On 31 October, Nakamoto published a white paper on the cryptography mailing list at metzdowd.com describing a digital cryptocurrency, titled "Bitcoin: A Peer-to-Peer Electronic Cash System".

 On 9 January 2009, Nakamoto released version 0.1 of the bitcoin software on SourceForge and launched the network by defining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins. Embedded in the coinbase transaction of this block is the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", citing a headline in the UK newspaper The Times published on that date. This note has been interpreted as both a timestamp and a derisive comment on the alleged instability caused by fractional-reserve banking.

Nakamoto continued to collaborate with other developers on bitcoin's software until mid-2010, making all modifications to the source code himself. He then gave control of the source code repository and network alert key to Gavin Andresen, and transferred several related domains to various prominent members of the bitcoin community. In 2011, Nakamoto wrote in an email to co-developer Mike Hearn that he had “moved on to other things,” and he was never heard from again.

As of 2021, Nakamoto is estimated to own between 750,000 and 1,100,000 bitcoin. In November 2021, when bitcoin reached a value of over $68,000, his net worth would have been up to $73 billion, making him the 15th-richest person in the world at the time.