Bitcoin Price Drops, This Person's Wealth Shrinks Rp 410 T

When the price of one digital Bitcoin token reaches US $ 65,000 or the equivalent of Rp. 930 million/coin, the wealth of a person named Satoshi Nakamoto reaches US $ 65 billion or around Rp. 930 trillion. But now his wealth has fallen by almost half when the digital asset crashes and struggles to rise again.
It is unclear who exactly Satoshi Nakamoto was. He is said to have owned 1 million pieces of Bitcoin from the start. So far what the public knows is the person who created the cryptocurrency.

Since being banned in many countries the price of Bitcoin has continued to slide.

Falling below US $ 40,000 made Bitcoin difficult to rise again until now.

As of today, Monday (7/6/2021), coinmarketcap.com data shows the price of one piece of Bitcoin is priced at US $ 36,370 or IDR 520 million. This means that when compared to the highest level, Satoshi's wealth in the form of Bitcoin has shrunk by 44%.

Using the exchange rate of Rp. 14,300/US$, the total wealth of a person using the Japanese name has decreased from Rp. 930 trillion to Rp. 520 trillion, aka a decrease of Rp. 410 trillion. Although the drop is significant but still in the ranks of the world's top 100 rich people.

In many countries get a lot of trespassing. There is that acceptance of this cryptocurrency will only make governments and central banks powerless.

Bitcoin has also drawn protests from various environmental activists because mining activities that reflect efforts to validate transactions must use sophisticated supercomputers and consume a lot of electricity.

This is one of the considerations for investors who are now increasingly aware of the role of sustainability in terms of the environment for the sustainability and stability of the global economy.

Previously many thought that Bitcoin was like digital gold. Many are hunted because of the threat of a devaluation of the US dollar that triggers high inflation.

But when inflation in the US started to rise, Bitcoin failed to fly further. Instead, there are investors withdrawing money from Bitcoin and moving it to a more conservative asset, namely gold. This outflow factor also weighed on Bitcoin price movements.

Besides, it is still far from the characteristics for hedging assets. Bitcoin also still cannot replace the function of fiat money as a medium of exchange, store of wealth and unit for accounting because of its very sharp volatility.

However, even if there is a person named Satoshi Nakamoto, he has succeeded in capturing the attention of the world's public with his innovations in the monetary field.

Even if it is true that he still holds 1 million Bitcoin, then he has become a competitor to the sultans whose names are included in the 100 richest people in the world according to various magazines.

Share :