Coinbase Strongly Opposes Against the Identification of Satoshi Nakamoto
Coinbase is sure that deanonymization of Satoshi Nakamoto, the inventor of Bitcoin, can be bad for their business because it can cause the price of the coins to drop. They mentioned it in their registration document for the SEC. His personality is mentioned in the document three times as an inventor of the first decentralized digital money system and the author of the whitepaper “Bitcoin: Peer-to-Peer Electronic Cash System”.
Earlier, the crypto researcher Sergio Demian Lerner found out that in 2010 Satoshi managed to mine about 1.1 million Bitcoins that is equal to about $50 billion according to the recent price of the first world’s cryptocurrency. After Bitcoin reached the local price maximum of $19.4 thousand in 2017, these coins were moved. However, there’s no straight evidence of this event causing the change of Bitcoin’s price.
On February 24th, a Bitcoin whale moved 100 coins to other addresses. They were held without moving in a wallet since 2010. Their value grew by 622.5 thousand times over 11 years up to $5 billion.