Bitquery Analysis Places Satoshi's Bitcoin Stash at 0.9 Million
New blockchain analysis suggests the famous 1.1 million BTC figure may be an overestimate. The actual count depends on strict pattern application.
Key points
- Bitquery estimates the early miner holds 0.9 million to 1.17 million BTC depending on pattern strictness.
- The new analysis matches the original Patoshi fingerprint on 99.2% of early blockchain blocks.
- A 2010 transaction confirms one entity controlled block rewards mined throughout 2009.
Bitquery estimates the early Bitcoin miner holds just under 0.9 million coins. This figure is lower than the widely cited 1.1 million estimate. The discrepancy arises from how strictly the mining pattern is applied to early blocks.
Researchers agree that one entity mined the first blocks. The identity of that miner remains unproven. Cointelegraph notes that evidence linking the miner to Satoshi Nakamoto is circumstantial.
Rebuilding the early mining fingerprint
Sergio Dermian Lerner originally identified the Patoshi pattern in early 2013. Bitquery recently rebuilt this fingerprint from raw block data. They graded 54,316 blocks from Bitcoin's early era to verify the pattern.
The new reconstruction matches the public Patoshi list on 99.2% of blocks. The firm found zero exceptions in timestamp ordering tests. This confirms the statistical consistency of the early mining operation.
Variance in total coin estimates
Bitquery's strict analysis covers just under 0.9 million bitcoin. The most generous reading of the data yields 1.17 million. Published estimates of 1.0 to 1.13 million fall within this range.
Agrawal states that the specific total depends on pattern application. The firm did not alter the previous public estimate. The variation highlights the sensitivity of statistical blockchain forensics.
Direct evidence in 2010 transactions
A 2010 transaction provides direct evidence of wallet consolidation. Two transactions moved 600 bitcoin from rewards mined across 2009. This is the clearest moment where the chain confirms block ownership.
This transaction proves that one entity controlled keys to early rewards. It does not prove that entity was Satoshi Nakamoto. The identity of the controller remains unknown to date.
