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Claims that Bitcoin creator Satoshi Nakamoto holds around 1.1 million BTC are estimates based on patterns found in early mining activity rather than direct proof of ownership, according to Cointelegraph.
Researcher Sergio Demian Lerner identified a distinctive pattern in early Bitcoin blocks in 2013 and named it the “Patoshi” pattern. The miner tied to that pattern is estimated to have mined about 1.1 million BTC, and some BTC said to have been received from Satoshi by early users are linked to the same pattern, which has fueled speculation that Patoshi may be Satoshi. Still, no direct evidence proves that connection.
Blockchain analytics firm Bitquery reanalyzed 54,316 early blocks and found that, depending on the analytical criteria used, Patoshi’s estimated mined holdings ranged from under 900,000 BTC to about 1.17 million BTC. That suggests the widely cited 1.1 million BTC figure is also an estimate rather than a confirmed holding.
The outlet added that although 600 BTC dormant for 16 years recently moved, prompting speculation that the funds were tied to Satoshi, no clear link to Patoshi-mined coins has been confirmed. It said on-chain data alone makes it difficult to verify whether the early large-scale miner was actually Satoshi or whether the same person still controls the private keys.