Bitcoin analysis identifies 1.17 million BTC linked to Satoshi Nakamoto

A new analysis by Bitquery Research suggests that approximately 1.17 million Bitcoin, valued at roughly $100 billion, are linked to the ‘Patoshi pattern’—a specific block generation pattern associated with Bitcoin creator Satoshi Nakamoto.

By re-analyzing 54,316 early Bitcoin blocks, researchers found that this estimate is higher than previous major studies. Notably, the report highlights that 99.86% of these estimated coins have never moved. According to the findings, only 1,550 BTC from this group have ever been transferred, with no movement detected from these specific wallets since December 2017.

The study clarifies that while many early wallets have recently become active, none of the movements since 2020 have met the specific criteria used by researchers to identify them as belonging to Satoshi Nakamoto personally. The researchers distinguish between ‘Satoshi-era’ coins, which were mined during the creator's active period, and coins directly owned by Nakamoto.