1.1M BTC Worth $87.8B Possibly Lost Forever as Keys Died with Finney and Sassaman

1.1M BTC Worth $87.8B Possibly Lost Forever as Keys Died with Finney and Sassaman

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News Editor 01
2026-07-23 13:15:15
A CryptoComLearn article reignites the Satoshi identity debate. Analyst Krueger claims the 1.1 million BTC ($87.8B) in Satoshi's wallets may be permanently lost because key holders Hal Finney and Len Sassaman died with the private keys.
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A new article on CryptoComLearn has stirred fresh debate around Bitcoin's creator, Satoshi Nakamoto. According to analyst Krueger, the 1.1 million BTC — now worth roughly $87.8 billion — held in Satoshi's known addresses may be permanently irretrievable. Krueger's theory hinges on three arguments that point to a team behind Satoshi, rather than a single individual.

The double-signature theory: one person can't be in two places

Krueger's first argument: key emails attributed to Satoshi were sent during a 2009 road race when Hal Finney was known to be running a 10-mile marathon. At the same time, messages were being dispatched to Mike Hearn from Satoshi. Krueger states: "One person cannot be in two places at once, but a team can accomplish this." Second, Finney's exceptional C++ skills and Sassaman's global reputation as a cryptography expert provide the technical backbone. Sassaman's long residence in Belgium may explain the British-style English in the original Bitcoin whitepaper.

The timing of Satoshi's disappearance

The third and most striking point revolves around timing. Satoshi vanished on April 26, 2011. Just 68 days later, Len Sassaman took his own life. During the same window, Hal Finney lost most of his ability to write due to advanced ALS. Krueger argues this alignment strongly supports the team theory.

Will Satoshi's BTC ever move?

Krueger concludes the coins will never move again. At the time of Sassaman's death and Finney's paralysis, the wallets held roughly $800,000 worth of BTC. Today, that sum has grown to 1.1 million BTC, valued at $87.8 billion. In Krueger's view, the private keys were lost along with Finney and Sassaman, making this the largest "burned" Bitcoin trove in history. The risk of a market-moving dump from Satoshi's wallets has dropped to near zero. While some find the arguments persuasive, much of the crypto community remains skeptical and demands harder evidence.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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