- Coinbase’s IPO filing highlighted a specific warning related to crypto prices
- If the mastermind of cryptocurrency comes back in the field, various situations are possible
- According to popular opinion, Satoshi Nakamoto holds around 1.1 million worth of Bitcoin
Cryptocurrency trading platform Coinbase recently announced its filing with the SEC to go public through the unconventional mode of direct listing. The firm’s IPO filing is linked to the current context of surged engagement and prices for the cryptocurrency industry.
Coinbase’s Warning Regarding Changes in Crypto Prices
The crypto trading platform’s IPO filing highlighted a specific warning that if the identity of Bitcoin’s peculiar creator, Satoshi Nakamoto, is ever unveiled, it is likely to affect the crypto space with heavy and significant changes in the value of crypto assets.
In documents submitted to the Securities Exchange Commission, Coinbase stated that the crypto economy can witness a series of negative effects of the trading for Bitcoin and Ethereum (ether) declines in terms of volume or if their values diminish. The platform highlighted several factors responsible for the aforementioned plunges. The major one, the platform quoted, is the potential recognition of Satoshi Nakamoto, the fictitious being or beings who created bitcoin. The other major reason is the alleged transfer of Satoshi’s bitcoins.
The Potential Outcomes of Satoshi’s Return
Bitcoin represents the debut asset in the space of decentralized cryptocurrencies. Satoshi is, thus, the unknown author responsible for the creation of the white paper known as Bitcoin: A Peer-to-Peer Electronic Cash System. Though there exists very scarce information about him, the popular opinion believes him to be a man from Japan, probably in his 40s.
However, the output we hold from Satoshi’s inventions does not suggest any Japanese connection. This is primarily because of his frequent uses of English idioms as well as there is no hint of any documentation or labeling in Japanese within the Bitcoin software.
If the mastermind of cryptocurrency comes back in the field, various situations are possible based on who is the respective individual or the group of individuals considering the name can just be a pseudonym.
According to popular opinion, Satoshi holds around 1.1 million of the total 21 million worth of Bitcoin in circulation. As such, his identity possesses an instantaneous socio-economic impact. If he is dead, there is a chance that his Bitcoin holdings will remain inaccessible forever. Cryptocurrencies are connected to a complex encryption key, with people losing access to millions because of their inability to remember their passwords.
The respective IPO filing also highlights that if the negative opinions about BTC or ETH get a stronger hold, they can constitute a major factor affecting their values. Thus, Coinbase’s filing put forward some notably interesting tidbits, such as highlighting the description of the word hodl– that referred to an acronym employed for a hold on for dear life. Cryptocurrency users use it when they strengthen their grip over a crypto asset through ups and downs.
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