Bitcoin creator dead? Novogratz Sparks Satoshi Nakamoto Death Debate
Galaxy CEO and founder Mike Novogratz discussed Bitcoin's spectacular climb on CNBC's "The Exchange" on December 5, making a remarkable revelation regarding Satoshi Nakamoto.
Historical Bitcoin Moment
After Bitcoin reached $100,000—an incredible rise from a white paper 15 years ago—Novogratz paid respect to the community that has fueled its acceptance. He noted Bitcoin's grassroots growth: “If Satoshi was alive, because I don't think he is, I'm sure he would have a big smile on his face.”
This matter-of-fact statement highlights BTC's pseudonymous creator's mystique. Satoshi's identity is unknown, although high-profile business people seldom discuss his demise.
"Great technology and a social construct that helps individuals understand one other. I think this is the best example of a wide coalition doing something amazing. Before we speak about pricing, I want to acknowledge that a guy's concept became a $2 trillion asset in 15 years, which is really amazing.
Digital assets produce massive value, according to Novogratz, an early Bitcoin investor. Due to BTC price tripling, the previous three months may have been “the single greatest wealth gain for 25 to 45-year-olds in history”.
The CEO stressed the economic effect of this generational wealth transfer, stating that 23% of wealth shocks are spent on consumption. People will purchase homes and automobiles...
Bitcoin's worldwide, coalition-based development is commendable, but volatility is unavoidable. He stated market leverage almost guaranteed tough times: “I can guarantee all your listeners, there will be at least one, if not two, vicious retracements which will test your soul.”
Moving to policy, Novogratz was positive about the next US administration's regulatory stance. He called the previous four years "four years of horrible regulation," saying the Trump administration and regulatory selections might boost digital asset development and innovation.
