While Bitcoin’s mysterious creator Satoshi Nakamoto has remained anonymous for over a decade, new evidence suggests potential ties to Canada through recently discovered blockchain transactions. A Coinbase executive uncovered 24 outbound transactions from suspected Satoshi-controlled wallets to Cavirtex, a Canadian Bitcoin exchange later acquired by Kraken in 2016.
The transactions show that an address known as 1PYYj received Bitcoin from both Satoshi-linked wallets and Cavirtex, marking the first documented interaction between Satoshi and a centralized exchange. This discovery has led to speculation about whether Kraken, which acquired Cavirtex, might have access to historical records that could reveal Satoshi’s identity. The Bitcoin whitepaper published in 2008 marked the beginning of the cryptocurrency revolution.
Newly uncovered Bitcoin transactions link mysterious creator Satoshi to Canadian exchange Cavirtex, raising questions about hidden identity records at Kraken.
The LocalBitcoins, Paxful, and Bisq were the primary traders contributing to Canadian Bitcoin volume from 2013 to 2021. The timing of these transactions is significant, as they occurred when cryptocurrency exchanges had less stringent Know Your Customer (KYC) requirements. Kraken, which implemented mandatory KYC for all users in 2017, has responded to inquiries about Satoshi’s identity with the cryptic statement “We are all Satoshi.”
On-chain analysis reveals that Satoshi is believed to control approximately 1.096 million BTC, currently valued at $108 billion. The last known activity from Satoshi-linked wallets occurred in 2014. One particular address connected to the Canadian exchange transactions, known as 12ib, currently holds Bitcoin worth $3 billion.
The Canadian cryptocurrency landscape has shown significant growth, with the country ranking fifth in MoonPay’s customer transactions and eighth in completed volume. Canadian users mainly use the platform to buy crypto assets, with 97% of transactions dedicated to purchases.
Ethereum leads in popularity at 32%, followed by Bitcoin at 29% and Solana at 22%.
Looking ahead, Canada’s crypto user base is projected to reach 12.95 million by 2028. Currently, the country maintains a 10% crypto ownership rate, placing it 20th among 26 countries studied.
These findings, combined with the historical Satoshi transactions, highlight Canada’s potentially significant role in Bitcoin’s early development and adoption.
