Bitquery Traces Up to 1.17 Million Bitcoin to Satoshi Patoshi Pattern

An on-chain analysis by Bitquery estimates early Bitcoin miner holdings, widely linked to creator Satoshi Nakamoto, at up to 1.17 million BTC, worth nearly $100 billion. The audit examined Bitcoin's first 54,316 blocks, identifying 22,000 to 23,466 blocks linked to the Patoshi pattern. Bitquery confirmed that 99.86% of the stash has never moved across 17 years, with 1,023,352 BTC provably untouched as of September 1, 2026. Only 1,550 BTC has ever departed the pattern, and no Patoshi-era rewards have moved since December 2017, alleviating market concerns over structural selling pressure.