Satoshi Nakamoto's Power of Bitcoin Statement Resurfaces as BTC Hits ATH

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

As Bitcoin surges to a new all-time high, the words of its mysterious creator Satoshi Nakamoto have resurfaced, igniting reflection across the crypto community.

In a tweet, Bitcoin historian Pete Rizzo shared a statement believed to have been made by the Bitcoin creator, marking exactly 16 years since it was made. This statement dates back to November 6, 2008, when Bitcoin was valued at $0. Fast forward to today, and Bitcoin has set a new all-time high of $75,410.

The statement, which Rizzo shared, highlights Satoshi’s belief in Bitcoin’s power even when the digital currency had not yet launched and had no monetary value. Satoshi articulated his vision for Bitcoin in this succinct statement.

Satoshi's Power of Bitcoin statement came notably less than seven days after the Bitcoin white paper was released.

On Oct. 31, 2008, the pseudonymous Bitcoin creator published the Bitcoin whitepaper, laying the groundwork for the world's first and largest cryptocurrency. Bitcoin would later launch the following year, on January 3, 2009, precisely, when Nakamoto mined the starting block of the chain, known as the genesis block.

Today, as Bitcoin reaches new highs, Satoshi Nakamoto's early declaration about the potential of Bitcoin, even when it was $0, remains relevant.

Crypto market faces $592 million in liquidations

The cryptocurrency market has experienced a significant wave of liquidations, totaling $592 million, even as the broader market continues to rise.

In the past 24 hours, the market saw a mix of long and short positions being liquidated across various exchanges. This wave of liquidations comes at a time when several cryptocurrencies are experiencing significant gains. Bitcoin recently hit a new all-time high of $75,410 and traded at $73,717 at press time.

According to CoinGlass data, bullish bets recorded $212 million in liquidations, while traders expecting the crypto price to fall further faced $365 million in liquidations.

The largest single liquidation order happened on Binance - a BTCUSDT trade worth $74.98 million.