CryptoFly.us | CRYPTOCURRENCY BITCOIN SHIRTS CLOTHING APPAREL HATS

CRYPTO NEWS

Bitcoin’s Unknown Creator Satoshi Nakamoto Is Now the 20th Wealthiest Person on Earth

In mid-April the creator of the Bitcoin network, Satoshi Nakamoto entered the world’s top 20 richest billionaire list but after bitcoin’s price dropped, the inventor’s wealth plummeted. This week, Nakamoto has once again joined the top 20 richest people on the face of the earth. The last time, Nakamoto made the 19th position, and this time around, Bitcoin’s inventor is now the 20th richest person(s) on the face of the planet.

6 Months After Bitcoin’s All-Time High, Satoshi Nakamoto Becomes the 20th Wealthiest Person in the World

The leading crypto asset bitcoin (BTC) has skyrocketed past the $60K handle and tapped a high of $62,945 on Friday. Using today’s exchange rate and the estimated stash of bitcoin Satoshi Nakamoto reportedly owns, indicates that Bitcoin’s inventor is the 16th richest person or persons worldwide. The last time Bitcoin.com News reported on this subject, Nakamoto climbed from the 159th richest person in the globe to the 19th in a mere five months. Using today’s BTC exchange rates on October 17, 2021, six months later, Nakamoto is now the 20th richest person(s) worldwide.

The reason why people assume Satoshi Nakamoto owns all this wealth, is because it is estimated that Bitcoin’s inventor owns around 1 million BTC. Of course, there are lower-bound estimates which say the inventor only collected 750,000 BTC and then upper-bound estimates that assume Nakamoto has more than 1.1 million BTC. The crypto community at large assumes that Nakamoto has around 1 million bitcoin and because he, she or they acquired it during the first year of BTC’s existence, the inventor owns all the forks tied to the stash as well.

Between Bitcoin and 3 Forks, Nakamoto Has Roughly $61 Billion in Unspent Wealth

This means that on October 17, 2021, Nakamoto owns roughly $60.7 billion in bitcoin (BTC), $625 million in bitcoin cash (BCH), $169 million in bitcoinsv (BSV), and $191 million in ecash (formerly known as BCHA or Bitcoin ABC). That’s a grand total of $60.9 billion between those four networks which places Bitcoin’s inventor at the 20th position in Forbe’s real-time billionaires’ list. Satoshi Nakamoto is above the net worth of ​​Zhang Yiming, the billionaire from China. However, Nakamoto’s wealth is below the world’s 19th richest as Walmart’s Rob Walton has around $75.3 billion to his name.

What’s pretty amazing is that one of the world’s 20 richest people in the world is the mysterious inventor of Bitcoin. A person or group of people that have yet to spend a single penny of the $60.9 billion worth of crypto assets. Some people assume that Nakamoto may have passed away and this is why the inventor has never and will never spend the stash of 1 million coins collected when the creator kick-started the BTC network. However, Nakamoto may still be alive and may still have access to these riches.

Bitcoin’s inventor still has to catch up to the world’s two richest people which include Elon Musk and Jeff Bezos respectively. Musk has around $214.8 billion in wealth today according to Forbe’s real-time billionaires’ list and Jeff Bezos owns around $197.8 billion. In order to overtake Musk’s net worth, a single BTC will need to be valued at over $215K per unit. If BTC taps $100K this year, Bitcoin’s inventor will be in the top 10 richest person(s) list next to Warren Buffet and Mukesh Ambani.

What do you think about Bitcoin’s inventor Satoshi Nakamoto becoming the 20th richest person(s) on planet earth? Let us know what you think about this subject in the comments section below.

Will auction houses be bigger than museums in the NFT world?

2021 has been a crazy year around the NFT ecosystem, especially in the art world. One of the main catalysts was the auction of the NFT “Everydays: the First 5000 Days” by Beeple, sold for $69 million by Christie’s last March. On the other hand, in July, the Institute of Contemporary Art, Miami (ICA Miami),::Listen

2021 has been a crazy year around the NFT ecosystem, especially in the art world. One of the main catalysts was the auction of the NFT “Everydays: the First 5000 Days” by Beeple, sold for $69 million by Christie’s last March.

On the other hand, in July, the Institute of Contemporary Art, Miami (ICA Miami), acquired through a gift from Eduardo Burillo CryptoPunks NFT #5293, according to Resnicow and Associates. But, until now there has been more NFT adoption in auction houses like Sotheby’s and Christie’s rather than in museums.

Why are museums lagging behind the NFTs?

Other than the ICA Miami getting an NFT, only a few other museums, like the British Museum in London, and the Hermitage Museum in St. Petersburg, have been involved in this world, according to Apollo art magazine.

According to TNW, some of the obstacles museums have when getting involved with the NFT world are: That NFTs are attached to cryptocurrencies which involve regulatory uncertainties and volatility; and the fact that an NFT could be an income-producing asset for a museum could bring different problems, such as limiting public access to the collection, proper reinvestment of the income received, and the possibility of an NFT collection being treated as a financial asset instead of art for display.

Sotheby’s and Christie’s are changing the art world

Nowadays, the way we sell art pieces is changing, and Sotheby’s and Christie’s are taking the strings for this to happen.

November was a very important month for the NFT world. Last week, according to Christie´s website, they partnered with OpenSea to make the first on-chain auction called “Christie’s X OpenSea”, the exhibition will be available for the public in OpenSea from Dec. 1-3, and the bidding will be open from Dec. 4-7.

“My hope is that this will be the beginning of a new era for NFT sales at Christie’s, where amazing technology can be deployed to its full potential and facilitate the on-boarding of even more traditional contemporary art collectors to Web3,” said Noah Christie’s, head of Digital and Online sales.

Also, Sotheby’s accepted Ethereum (ETH) bids during the auction of two Banksy paintings. But one of the most important involvements of Sotheby’s in the NFT ecosystem was building a replica of their London auction house in a primer location in Decentraland metaverse where you can enter their gallery from anywhere in the world as referenced below.

The art industry is going digital. So far, museums and auction houses have taken a different approach with the NFT ecosystem. With these new metaverse trends, the art industry may continue to change.

Will a museum like the Louvre take a step forward and enter into a metaverse like Sotheby’s did? It’s hard to predict, but remember art museums explain history through art, NFTs will definitely be part of our history.

The post Will auction houses be bigger than museums in the NFT world? appeared first on CryptoSlate.

Bitcoin’s Unknown Creator Satoshi Nakamoto Is Now the 20th Wealthiest Person on Earth

Shopping cart
There are no products in the cart!
Continue shopping
0