Ripple CTO: Satoshi’s 1.1M BTC Are Likely Lost

Ripple CTO David Schwartz wrote on X that the private keys tied to Satoshi Nakamoto’s early Bitcoin addresses are likely lost and inaccessible.

Those addresses are estimated to hold about 1.1 million BTC, roughly $70 billion at recent prices, representing more than 5% of Bitcoin’s 21 million cap.

The coins come from Bitcoin’s earliest blocks, commonly described as Genesis-era holdings.

If the private keys cannot be recovered, the addresses would remain dormant and the coins could not be moved. The blockchain ledger and past transactions would remain unchanged.

Schwartz said he first encountered Bitcoin in 2011 and therefore ruled himself out as the creator.

His comment followed renewed attention after an investigation identified a 55-year-old computer scientist as a possible creator, prompting debate over who controls early-mined coins.

Several people named in recent discussions denied being Satoshi. Adam Back replied on X, “I’m not Satoshi, but I was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash.”

Former Mt. Gox CEO Mark Karpelès urged the community to protect the creator’s anonymity, calling a mysterious Satoshi “the perfect entity.” Another user questioned the assumption that Satoshi is a single person who chose secrecy, saying that view could serve interests in the crypto industry.

Researchers continue to examine writing style, code, forum posts and on-chain patterns tied to the first blocks. To date, no public evidence has linked any individual to the original private keys that controlled those earliest holdings.