James Check: The Sale of Satoshi Nakamoto's Bitcoins Won't Crash the Market
James Check, the founder of the analytics service Checkonchain, stated that the potential sale of bitcoins from the era of Satoshi Nakamoto due to advancements in quantum technologies will not have a catastrophic impact on the cryptocurrency market. He assessed that the actual selling pressure in such a scenario would be significantly lower than often portrayed in headlines.
He categorized potentially vulnerable assets into three groups: approximately 1.716 million BTC from the early network period, about 214,000 BTC in Taproot addresses, and around 4.996 million BTC in reused addresses. The analyst emphasized that substantial risks are primarily associated with the first category.
Check noted that Taproot address holders are likely to be active and able to swiftly move their funds. In contrast, reused addresses typically belong to exchanges and custodial services that are already working on protective mechanisms.
He pointed out that the market regularly absorbs between 10,000 to 30,000 BTC daily through the so-called "returning supply" (coins that have not moved for a long time and are re-entering circulation). At this rate, liquidating the entire volume would take 60 to 90 days.
