Wallets linked to Satoshi Nakamoto still hold about 1.1 million BTC, and none of those coins have moved even after a steep decline in market value. According to the source material, the stash was worth more than $135 billion at the 2025 peak and is now valued at roughly $71 billion, leaving an unrealized decline of about $64 billion.
The holdings are spread across more than 22,000 early wallets commonly associated with the Patoshi pattern. These addresses date back to mining activity in 2009, during Bitcoin’s earliest days. Analytics firm Arkham Intelligence says the wallets have stayed silent for over a decade, with no on-chain activity recorded from the coins tied to this cluster.
Price dropped sharply, but the wallets did not react
The comparison in the article puts Bitcoin near $124,000 at the 2025 peak and around $65,400 in 2026. Over the same period, the value of the holdings fell from $135 billion to $71 billion. The table in the source labels the wallets as dormant in both periods, showing that the decline came entirely from price movement rather than any sale or transfer.
That lack of activity is a market story on its own. The article argues that because these coins never enter circulation, they do not add selling pressure to the market. It also says that even a movement of 100 BTC from Satoshi-linked wallets today could trigger panic, though no such transfer has been seen.
Epstein files renewed speculation, not evidence
The report also points to the release of the “Epstein Files” by the US government in early 2026. Those documents, according to the source, show that Jeffrey Epstein had connections with some early crypto developers. One file cited by name, EFTA02520108.pdf, indicates that he was tracking research about Bitcoin’s creator as early as 2013.
Still, the released documents do not prove who Satoshi is. They also do not show that Epstein controlled private keys, accessed the wallets, or influenced any Bitcoin addresses linked to Satoshi. The speculation returned, but the on-chain facts remained the same: the wallets stayed inactive.
Why the dormant stash keeps drawing attention
The article describes the frozen coins as one of the most important supply locks in the market. The logic is simple. As long as 1.1 million BTC remain untouched, that supply is not available for immediate trading and cannot suddenly hit the market. Satoshi has made no public appearance, given no interviews, and left no wallet movement behind. That silence continues to shape how traders read the broader Bitcoin market.
At the time of publication, the identity of Bitcoin’s creator remained unresolved. What is visible on-chain is much narrower and much clearer: the wallets are still dormant, and the value swing remains unrealized.