Cryptocurrencies

Coinbase quotes Satoshi Nakamoto in SEC filing

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Craig Wright is not Satoshi Nakamoto. The proof: the price of Bitcoin (BTC) has not collapsed. Coinbase files yet another file with the SEC to advance its IPO. The exchange mentions the creator of Bitcoin there.


Nakamoto challenge: bad for Bitcoin

According to the filing with the SEC, Coinbase sent copies of its S-1 registration statement to the legal team at Coinbase Global and the Californian law firm Fenwick & West.


Coinbase also registered Satoshi Nakamoto and the address of Genesis Block, as recipient of a copy of the registration statement.

The latter’s approval is a further step for the exchange in its IPO process.

Satoshi Nakamoto is mentioned 4 times in the file submitted to the SEC.

He is cited there as the author of the white paper of Bitcoin but, the S-1 statement also evokes the lifting of the anonymity of the identity of the father of the Bitcoin and the transfer of its BTC as risk factors that could lead to a collapse in the price of Bitcoin andEther (ETH).

Satoshi would have undermined at least 1.1 million BTC. When small amounts of Bitcoin mined in 2010 and 2011 moved after the bull run of 2017, the markets recorded fluctuations in the price of Bitcoin.

However, there is not enough evidence to support the thesis that the movements of Bitcoins during the era Satoshi, have a lasting impact on the price of BTC. Subscribe for freeJoin our community of Bitcoin and cryptocurrency enthusiastsemail * Validate

Bitcoin holds the purse strings

Coinbase originally announced in December 2020 that he would file an application with the SEC for an IPO.

According to the filing of February 25, 2021, Coinbase reportedly generated $ 1.1 billion in direct income in 2020, $ 482 million more than in 2019.

The latest evaluation of Coinbase in 2018 had estimated the exchange’s value at $ 8 billion.

Recent reports, however, indicate that the market capitalization of Coinbase could amount to more than $ 100 billion when it goes public.

The value of Coinbase could continue to increase if Bitcoin continues its bullish rally.

Bitcoin has just suffered another fall exacerbating the effects of the major correction during the last week of February 2021, after the BTC reached an ATH above $ 58,300.

If the identity of Satoshi Nakamoto was revealed, then should we really expect the end of Bitcoin? The dad must stay in the shadows so that the son may live.

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Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which appear to be far too technical.

DISCLAIM

The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.

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