Coinbase Analyst Links Kraken to Potential Bitcoin Creator, Sparking Debate
Conor Grogan from Coinbase has uncovered a potential link between Bitcoin's mysterious creator, Satoshi, and Kraken, through a detailed analysis of mining patterns.
Grogan focuses on the “Patoshi Mining Pattern,” a distinctive feature found in Bitcoin’s early blocks, which many believe is tied to Satoshi’s mining activity. These early mining addresses, which have not been active for years, are thought to control over 1 million BTC, a staggering amount currently valued at over $100 billion.
Grogan’s investigation reveals that some of these addresses have made transactions that trace back to an address associated with CaVirtEx, a Canadian exchange that was later acquired by Kraken.
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He speculates that Kraken’s co-founder, Jesse Powell, might have access to valuable data about the creator of Bitcoin due to CaVirtEx’s historical KYC practices.
However, some members of the crypto community are skeptical, arguing that early exchange practices didn’t require detailed KYC information, and that Bitcoin transactions often pass through multiple hands before reaching their destination.
The revelation has sparked a mix of excitement and doubt, with many questioning whether Grogan’s conclusions about Satoshi’s inactivity — reflected in the lack of movement in these wallets — could be a bullish indicator for Bitcoin’s future.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
