According to TechFlow, on November 25, Cointelegraph reported that Bitcoin research organization BTCparser proposed a new theory: Bitcoin founder Satoshi Nakamoto may never really disappear, but strategically liquidated Bitcoin wallets created in 2010 starting in 2019. Each of these wallets held 50 Bitcoins, and the first transfer did not occur until November 2019.

BTCparser found that the liquidation of these funds showed a regular increase: the first sale of $5 million was in November 2019, $6-8 million and $11-13 million were sold in March and October 2020, respectively, and the most recent liquidation of $176 million was on November 15, 2024. After these funds were pooled through the P2SH address, they were transferred to multiple bech32 addresses and eventually flowed to the Coinbase exchange.

Researchers believe that if these 2010 wallets indeed belong to Satoshi Nakamoto, this strategic avoidance of the 2009 wallets demonstrates the founder's careful planning to protect privacy.